NewsGate Press Network

Without mincing any words, Russia on Tuesday the 8th of March 2022 officially threatened to close its main oil pipeline to Germany if the West goes ahead with a ban on Russian oil – it was reported by the BBC.

The ‘threat’ was made by none other than the Russian deputy Prime Minister Alexander Novak who warned in no uncertain terms that a “rejection of Russian oil would lead to catastrophic consequences for the global market”, causing prices to more than double to $300 a barrel.

The US and its allies have been debating to impose a complete ban on oil imports from Russia.

The main beneficiary of Russian gas pipeline notably Germany and the Netherlands outrightly rejected the US plan on Monday.

It may be noted that Europe gets about 40 per cent of its gas and 30 per cent of its oil from Russia, and if the supply is stopped by Moscow, there is no alternate route to get this much oil.

The Russian Deputy PM said it would be “impossible to quickly find a replacement for Russian oil on the European market” warning that even if they did find other sources it will be mightily expensive for the European consumers.

Russia is the world’s top producer of natural gas and second biggest producer of crude oil.