Aleksandr novak, Deputy Chairman of the Government of the Russian Federation

New Delhi, March 8 Removing Russian oil from the market would make energy prices skyrocket to over $300 per barrel of oil, Russia's deputy Prime Minister Aleksandr Novak has said, adding that Russia is not dependent on the West and can "reroute" its supplies elsewhere.The European officials are "once again seeking to put all the blame for their own recent energy policy shortfalls on Russia", Novak told journalists, adding that "Russia has nothing to do with the current price hike on market volatility", RT reported.Russia has been a "reliable partner" for Europe for many decades, Novak said, adding that Moscow has been supplying the European nations with roughly 40 per cent of their gas needs. The deputy prime minister made his comments after gas prices in Europe hit record highs of almost $3,900 per 1,000 cubic meters while the price of Brent crude oil surpassed $130 per barrel for the first time in a decade.The deputy prime minister also slammed Germany's decision to freeze certification of the Nord Stream 2 gas pipeline project and argued that Moscow has a "full right" to stop supplying gas via Nord Stream 1 pipeline, which has not been targeted by Western sanctions.Russia is not that dependent on the West and "knows where to reroute" its supplies if needed. Still, Moscow will not take reciprocal measures against Europe in this case, he added.Earlier on Monday, German Chancellor Olaf Scholz admitted that his nation would not be able to replace Russian gas supplies any time soon and expressed his opposition to any sanctions targeting Russia's "essential" oil and gas industry. Following his statements, the gas price reduced to $2,700 per cubic meter.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Aleksandr novak, Latest News

International :Russian Dy PM Novak, Union Minister Hardeep Puri discuss bilateral cooperation

Deputy Prime Minister of the Russian Federation Alexander Novak and Minister for Petroleum, Natural Gas, Housing and Urban Affairs Hardeep Singh Puri had a telephonic conversation on Friday and discussed bilateral cooperation between the two countrie ...

Business :Crude oil price may surge to $300 a barrel, warns Russia

Ban on imports of Russian petroleum products by the western countries will have catastrophic consequences for the global economy and it will push crude oil price to over $300 per barrel, Russian Deputy Prime Minister Alexander Novak has warned. ...

International :Removing Russian oil from market would raise prices to over $300/barrel

New Delhi, March 8 Removing Russian oil from the market would make energy prices skyrocket to over $300 ... ...