Crude oil will cross $ 300, it will be difficult if there are restrictions on imports from Russia

Angered by the attack on Ukraine, the US and European countries are considering imposing sanctions on the import of oil from Russia. In this regard, Russia has warned that if this happens, the price of crude oil will reach $ 300 per barrel. This means that the price of petrol will more than double in the world including India.

US Secretary of State Antony Blinken said Washington and European allies are considering imposing sanctions on oil imports from Russia. After his statement, oil prices on Monday reached their highest level since 2008. This is the highest level of 14 years for crude oil.

After this, Russian Deputy Prime Minister Alexander Novak warned that the world oil market would have a disastrous effect if sanctions were imposed on oil imports from Russia over the Ukraine issue. There will be an unexpected increase in the price of crude oil. Crude oil prices may rise up to $300 per barrel. This statement of Novak has been released by Russian news agencies.

He also said that it is impossible to rapidly create a substitute for Russian oil in the European market. Russia-Germany gas pipeline may also face closure. The Deputy Prime Minister of Russia said that if you want to deny the supply of oil and gas from Russia, then go ahead. We are ready. Russia supplies 40% of Europe's oil and gas. Nowak said that Russia is fulfilling its obligations.

Nowak said it would take at least a year to make arrangements to transport oil to Europe from markets other than Russia. This will be very expensive for customers in Europe. The Russian leader said sanctions on Russian oil would create uncertainty in the oil market and would certainly have an impact on customers.

In exchange for the ban on the Nord 2 pipeline supplying gas to Germany, Russia may block supplies from the Nord 1 pipeline. However, we have not taken this decision yet, as it will not benefit anyone. However, the leaders of Europe are forcing us to do so by accusing Russia and making statements.

On Monday, crude prices jumped by $10 to reach $139 a barrel. This was the biggest jump since 2008. If the Ukraine war prolongs, then crude oil may cross $ 185 per barrel. In the early hours of Monday, the price of crude oil suddenly rose by $10 and touched a 14-year high. In 2008, crude oil reached $147 a barrel.