EU headquarters in BrusselsLONDON, Feb 9 prepared for the consequences of possible sanctions against Russia than Moscow, according to the British newspaper Financial Times. Earlier, the European Union said that it could introduce serious additional economic sanctions against Russia in the event of an aggravation of the situation around Ukraine.
Spain's foreign minister opposes preventive sanctions against Russia «Politicians fear the EU is less prepared than Moscow, where President Vladimir Putin's fortress-Russia strategy aims to help the country weather any deeper sanctions,» the newspaper writes. According to the publication, Russia is the largest energy supplier in the EU. About 40% of EU natural gas imports and almost a third of crude oil imports come from Russia. The newspaper quotes Capital Economics chief economist for Europe Andrew Kenningham, who noted that in the event of a conflict, gas prices “could easily rise” to a December 2021 peak in €180 per megawatt-hour, and electricity rationing «could push the economy into recession.» He also added that “Europe has no substitute for Russian gas.” “Russian gas weapons” are too powerful to ever be used or, for that matter, even mentioned directly in negotiations on this or that disagreement between countries. «, — the newspaper quotes Ronald Smith, senior oil and gas analyst at BCS Global Markets.The Foreign Ministry announced the imminent consequences of anti-Russian sanctions for the WestIt is noted that European oil groups such as BP, Total and Shell may face significant damage to their joint ventures in Russia if new sanctions are introduced.According to the publication, Russia supplies about 40% of the world's palladium, which is used in cars to reduce harmful emissions, and about 30% of titanium, which is critical to the aerospace industry. Thus, the European company Airbus receives about half of its titanium from Russia. It is also noted that disconnecting Russia from international payment systems or restricting its access to US dollars will “hit counterparties in Europe.” Kiev and Western states have recently been constantly claiming alleged strengthening of «aggressive actions» by Russia near the borders of Ukraine. Press Secretary of the President of the Russian Federation Dmitry Peskov said that Russia is moving troops within its territory and at its own discretion. According to him, this does not threaten anyone and should not worry anyone. Russia has repeatedly rejected accusations by the West and Ukraine of «aggressive actions», stating that it does not threaten anyone and is not going to attack anyone, and statements about «Russian aggression» are used as an excuse to place more NATO military equipment near Russian borders. The Russian Foreign Ministry previously noted that Western statements about «Russian aggression» and the ability to help Kiev defend itself against it are both ridiculous and dangerous. >Scholz threatened Russia with «large-scale» sanctions
