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Kremlin Warns U.S. Sanctions on Russian Energy, Targeting 180 Vessels and Major Oil Companies, Will Destabilize Global Markets, Pushing Oil Prices Above $85

Jan 13, 2025, 09:38 AM

The Kremlin has warned that the latest U.S. sanctions targeting Russia's energy sector will destabilize global energy and oil markets. Dmitry Peskov, the Kremlin's spokesperson, stated that such decisions are bound to lead to a certain destabilization of international energy markets. These sanctions, announced by the administration of President Joe Biden, aim to impact more than 180 vessels and major Russian oil companies. Additionally, Goldman Sachs has predicted that these sanctions could push oil prices above $85 per barrel, while Morgan Stanley has revised its oil price forecast for the first quarter to $77.5 per barrel, up from $72, following the imposition of the sanctions.