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Kremlin: Russian Oil Embargo Will Have a Significant Impact on The Global Oil Market.

Moscow, Monday, 21 Monday 2022

The Kremlin said on Monday that a prospective EU ban on Russian oil shipments would have a significant impact on the global oil market and impair Europe's energy balance.

"This is a very delicate matter," spokesperson Dmitry Peskov said at a daily briefing in Moscow, "since such an embargo will affect, and will effect quite significantly, the world oil market in general."

Only the United States is relatively safe from the hazards of such an embargo, according to Peskov, while the EU and the rest of the globe may suffer challenges.

"Americans, understandably, will stick with their own and will feel far better than Europeans. The Europeans are going to have a tough time. This is most likely a decision that will affect everyone " he stated.

EU officials met in Brussels on Monday to discuss the sixth round of sanctions against Russia since the conflict with Ukraine began last month.

Representatives from the Baltic countries of Estonia, Latvia, and Lithuania announced ahead of the summit that they would insist on a Russian oil embargo.

Regarding the situation in Ukraine, Peskov stated that Russia will not proclaim a unilateral cease-fire since "nationalists exploit this opportunity to regroup and bolster positions."

"This has happened before, and it obviously complicates the procedure," he explained.

While praising countries who are working to help Russia and Ukraine reach an agreement, he warned of the implications for those who urged for military intervention in the conflict.

Countries should use their leverage on Kyiv, if they have any, to make it "more obedient, more constructive in these negotiations," he said.

International humanitarian organisations, in particular, should exert pressure on Ukrainian officials on the topic of humanitarian corridors, according to the spokesman.

"The creation of humanitarian corridors is in the works. And the claim that no one is allowed to exit the encircled cities is a complete fabrication. Humanitarian corridors exist.

"Our military provides them," Peskov added, accusing Ukrainian "nationalists" of doing so "Residents should not be allowed to use these routes.

"As a result, it would be reasonable to exert pressure on the Kyiv authorities to attempt to persuade these nationalists not to hide behind people as a shield," he said

Regarding the likelihood of a meeting between Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenskyy, Peskov stated that the two leaders had reached no agreement.

He also expressed regret for what he described as the persecution of Russians and anything associated with Russians abroad as a result of Russia's war on Ukraine, which began on February 24 and has sparked international condemnation, financial sanctions against Moscow, and an exodus of global firms from the country.

Since the start of the battle in Ukraine, at least 900 people have been killed and 1,459 injured, according to the UN, which noted that verification of the precise number is difficult due to the situation on the ground.

According to the UN refugee agency, more than 3.32 million people have fled to neighbouring nations.

(Research and edit by: The Decision Maker – International Relations editors)

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