Russia warns that new US energy sanctions could destabilise the global market

The Kremlin announced on Monday that it would take all possible measures to minimize the impact of the latest U.S. sanctions against the Russian energy industry.

Dmitry Peskov, Kremlin spokesperson, said: "It's clear that the United States is going to continue to attempt to undermine our companies through non-competitive means. But we expect to be able counteract that."

"At exactly the same time, these decisions will undoubtedly lead to an overall destabilisation of oil and energy markets internationally." We will monitor closely the effects and adjust the work of our businesses to minimize the impact of these illegal decisions.

The U.S. Treasury announced new sanctions against Russian oil producers Gazprom and Surgutneftegaz on Friday. It also targeted 183 vessels which had shipped Russian oil.

The goal was to reduce Russia's revenue for funding the war in Ukraine. The sanctions, according to a U.S. official, could cost Russia billions per month if they are enforced properly.

These sanctions have led Chinese and Indian refiners who have been buying a lot of crude oil from Russia to look for alternative sources. The latest sanctions have hit many tankers that were used to transport oil to these two countries.

Peskov stated that modern experience has shown it is impossible to cut off natural energy supply routes.

"You block something at one place and an alternate option appears elsewhere." He said that a search would be made for options to minimise the sanctions' consequences.

(source: Reuters)