Russian Embassy warns of energy markets destabilization risk due to UK sanctions

Business & Economy February 24, 20:54

Attempts to impose trade and economic dictates cannot produce any positive outcome, the embassy noted

LONDON, February 24. /TASS/. Sanctions introduced by the United Kingdom against Russia lead to destabilization of global energy markets, the Russian Embassy in London cautions in response to a new package of anti-Russian restrictions.

"The new sanctions strike pipeline infrastructure, the nuclear sector, the LNG industry, and oil traders. Such actions against Russian oil and gas companies lead to destabilization of global energy markets and ultimately harm British businesses and the wallets of ordinary UK citizens. The extension of restrictive measures to entities of third countries undermines the energy security of states in the Global South," the Russian Embassy said.

"Attempts to impose trade and economic dictates cannot produce any positive outcome, not least because the United Kingdom has long since ceased to be an economic superpower or the ‘workshop of the world’," the Russian diplomats warned. "The modern global economy is not dependent on London’s intermediary services," the embassy noted.

"For four years running, repeated claims of Russia’s impending economic collapse have become increasingly detached from reality. The Russian economy has demonstrated its capacity to adapt, while the West’s shaky ivory tower of sanctions has grown ever more cumbersome and ineffective," the Russian diplomatic mission stressed.

"The British establishment has invested substantial political capital in the Kiev regime, as well as considerable budgetary resources in its own military-industrial complex, which largely explains its inability to abandon its confrontational course," the embassy noted. "The United Kingdom continues to refuse to acknowledge its role and responsibility for the root causes of the Ukrainian crisis and for shaping the circumstances that led to the launch of the special military operation," it added.

The UK sanction list was expanded by 297 positions in total earlier today, including 240 legal entities.

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