The Kremlin accused the United States on Wednesday of declaring an economic war on Russia that was sowing mayhem through energy markets, and it put Washington on notice it was considering its response to a ban on Russian oil and energy.
Russia's economy is facing the gravest crisis since the 1991 fall of the Soviet Union after the West imposed heavy sanctions on almost the entire Russian financial and corporate system following Moscow's invasion of Ukraine.
"You see the bacchanalia, the hostile bacchanalia, which the West has sown—and that of course makes the situation very difficult and forces us to think seriously," Peskov told reporters. Russian President Vladimir Putin says the "special military operation" is essential to ensure Russian security after the United States enlarged the NATO military alliance to Russia's borders and supported pro-Western leaders in Kyiv.
China, the world's second largest economy, has called for restraint but President Xi Jinping has cautioned that sanctions will slow down the world economy.Russia said on Monday that oil prices could shoot up to over $300 per barrel if the United States and European Union banned imports of crude from Russia. Brent hit $139 on Monday, its highest since 2008.
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