Jakarta, CNBC Indonesia – The Russian government claims that world crude oil prices could soar above US$ 300 per barrel if a number of Western countries seriously impose sanctions on energy imports from Russia.
This was stated by Deputy Prime Minister of Russia Alexander Novak, as quoted from CNBC, Tuesday (08/03/2022).
Novak threatened to cut gas supplies to Europe if the government sanctioned energy imports, warning that it could cause oil prices to soar above $300 a barrel.
Reportedly, civilian casualties continue to rise in Ukraine amid persistent Russian attacks on cities across the country. But Ukraine’s armed forces said on Tuesday that the pace of Russia’s invasion had “slowed significantly.”
It came after the United Nations called for a safe passage to be built in Ukraine so civilians could leave, following a failed evacuation due to Russia’s alleged violations of several cease-fire agreements.
Previously, JPMorgan revealed that oil prices are expected to reach US$ 185 per barrel by the end of the year if the Russo-Ukrainian War continues.
On Tuesday (8/3/2022) at 06:41 WIB, the price of Brent oil was at US$ 123.21 per barrel, soaring 4.32% as well as being the most expensive since March 2012 or 10 years ago.
Meanwhile, the light sweet type costs US$ 120.14 per barrel, up 0.62% and is the highest on record since July 2008.
(wia)
–
