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U.S. Treasury Department predicts severe consequences of the embargo on Russian fuel

The world will face dire consequences from refusal of Russian fuel. This was stated by U.S. Treasury Secretary Janet Yellen, reports The Hill.

According to her, the European Union is “extremely important to end dependence” on Russian imports of oil and gas, but if there is a complete embargo of these raw materials, the Western countries are threatened by negative consequences for the economy.

In addition, according to the U.S. minister, a full embargo on energy imports from Russia is unlikely to significantly impede the Russian economy, while the EU will begin to experience difficulties. The damage from such a decision for Western countries could exceed the damage done to Moscow itself.

Earlier on Saturday, April 23, Bloomberg learned that U.S. and European officials are preparing possible restrictions on oil imports from Russia. It was argued that now there are several main options: the introduction of an embargo, a price cap, as well as the creation of a specific “payment mechanism” for Russia.

On February 24, a special operation in Donbass was announced. This was Russia’s response to requests for military assistance from the leaders of the DNR and LNR. In response, Western countries announced new anti-Russian sanctions.

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Written by Medvedev


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