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Oil Embargo Would Hit Energy Balance in Europe, Kremlin Warns

© REUTERS / DADO RUVICA model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021
A model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021 - Sputnik International, 1920, 21.03.2022
Earlier this month, US President Joe Biden announced a ban on all energy imports from Russia, as part of the White House's sanctions on Moscow over its ongoing special military operation in Ukraine.
Kremlin spokesman Dmitry Peskov has warned that "everyone", including Europe, would be hit hard in the event of an embargo on Russian oil.
"Indeed, as far as we know, the issue of an embargo on the supply of [Russian] oil is actively being discussed. This topic is very complicated, because such an embargo will very seriously affect the world oil market in general", Peskov told reporters on Monday.
The Kremlin spokesman added that a possible decision to boycott Russian oil "will seriously affect the energy balances on the European continent for the worse".
"At the same time", he went on to say, "the Americans will remain on their own - this is obvious - and will feel much better than the Europeans, who will have a tough time". Peskov underscored that such an embargo on Russian oil might "probably" be "a decision that will hit everyone".
The statement comes amid a push by some European Union foreign ministers for an oil embargo as part of further sanctions against Russia over its ongoing special operation in Ukraine.
The operation, ordered by Russian President Vladimir Putin on 24 February, aims to demilitarise and de-Nazify Ukraine. The Russian military is only targeting Ukraine's military infrastructure with high-precison weapons, which pose no threat to Ukrainian civilians, according to the Russian Defence Ministry.
In retaliation, Washington and its allies imposed packages of "severe" sanctions on Russia. The Kremlin condemned these restrictive measures as an "unprecedented economic war" waged against Russia by the West. In particular, Moscow said that the West's aggressive stance against Russia makes the situation in the energy sector very complicated.
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