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Energy prices can be all-time high if supplies from Russia are limited — Deputy PM

If the world faces major physical, rather than hypothetical, restrictions, prices for main types of goods can be much higher than already achieved historically high maximums, Alexander Novak pointed out

MOSCOW, April 15. /TASS/. Oil, gas and coal prices can become record-high if physical supplies from Russia are limited, Russian Deputy Prime Minister Alexander Novak said in his article for the Energy Policy magazine.

"I would like to stress that even statements alone and not even actions on termination of energy supplies from Russia result in price spikes on global markets. If the world faces major physical, rather than hypothetical, restrictions, prices for main types of goods can be much higher than already achieved historically high maximums," Novak said.

High volatility and the extraordinary price rally for energy resources became the instantaneous response to the uncertainty caused by sanctions against Russia, the official added.

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Alexander Novak

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