Market
What will be the impact of G7 oil sanctions on the Russian economy by December 31, 2025?
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Significant economic downturn • 25%
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Economic reports from organizations like the IMF or World Bank
Story
Kremlin Warns G7 Oil Sanctions Would Backfire, Threaten Global Energy Markets
Dec 20, 2024, 10:16 AM
The Kremlin has stated that it will take countermeasures against any new oil sanctions that might be imposed by the Group of Seven (G7) nations. Kremlin spokesman Dmitry Peskov warned that such sanctions would backfire on the countries implementing them and could lead to instability in global energy markets. Peskov emphasized that Russia would act to minimize any consequences and protect its companies, asserting that these measures would ultimately harm those who impose them.
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