Kyiv. Russia has warned that crude oil prices could reach $300 a barrel. Western countries could face oil prices exceeding $300 a barrel and the closure of the Russia-Germany gas pipeline. Any such ban will have a big impact on the global market. Russia accounts for 8 percent of the global crude supply, while Europe accounts for 30 percent of the supply. America had said recently that together with the European Union, we will stop Russia’s crude supply. After this, crude had crossed $ 139 per barrel in the global market.

Nowak warned European countries, saying, “Don’t even think of imposing sanctions on Russia’s energy supply, or else we will cut off gas pipeline supplies to Germany.” If Europe wants to stop buying oil from us, it will take more than a year to make up for it. During this time, one will also have to be prepared to buy expensive oil.

Nowak said that European countries should think of their own interests. We are already prepared for such a situation. If our supply is affected there, we will start supplying in other markets. Europe buys 40 percent of its gas from us. How will we make up for this when our supply is stopped? At the moment we are not thinking of imposing any such sanctions, but if Europe moves forward, we will be compelled too.