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    You are at:Home » Western Ban On Oil Imports Will Double Price To $300 A Barrel: Russia

    Western Ban On Oil Imports Will Double Price To $300 A Barrel: Russia

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    By Amit Bhanot on March 8, 2022 Petroleum & Natural Gas

    (B.S)

    A Western ban on Russian oil imports may more than double the price to $300 a barrel and prompt the closure of the main gas pipeline to Germany, Moscow warned on Monday, as talks on Ukraine hardly advanced amid efforts to agree on civilian safe passage. Russia’s invasion, the biggest attack on a European state since World War Two, has created 1.7 million refugees, a raft of sanctions on Moscow, and fears of wider conflict in the West unthought-of for decades.

    Sieges and the bombing continued as Kyiv rejected possible humanitarian corridors to Russia and Belarus, but said some limited progress had been made on agreeing logistics for the evacuation of civilians.  A senior U.S. defence official said Putin had now deployed into Ukraine nearly 100% of the more than 150,000 forces that he had pre-staged outside the country before the invasion. Moscow has acknowledged nearly 500 deaths among its soldiers, but Western countries say the true number is much higher and Ukraine says it is many thousands. Death tolls cannot be verified, but footage filmed across Ukraine shows burnt-out wreckage of Russian tanks and armour, and parts of Ukrainian cities reduced to rubble by Russian strikes.

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    Amit Bhanot

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