SULAIMANI (ESTA) — Russia warned the West on Wednesday that it was working on a broad response to sanctions that would be swift and felt in the West’s most sensitive areas.
Director of Russian foreign ministry’s department for economic cooperation Dmitry Birichevsky said his country’s reaction” will be swift, thoughtful and sensitive for those it addresses, according to the RIA news agency.
On Tuesday, U.S. President Joe Biden imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion.
Earlier this week, Russia warned that oil prices could reach more than $300 per barrel if the U.S. and European Union banned imports of crude from Russia.
Russia says Europe consumes about 500 million tons of oil a year, according to Reuters. Russia supplies around 30% of that, or 150 million tons, as well as 80 million tons of petrochemicals.
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.
Ukraine says it is fighting for its existence and the United States and its European and Asian allies have condemned the Russian invasion.
