Russia says Europe faces $400bln costs in higher energy prices

Russia says Europe faces $400bln costs in higher energy prices

Russia promised on Thursday to speed up talks about increased gas sales to China and warned that Europe would pay a hefty price for its oil embargo against Russia.

Deputy Prime Minister Alexander Novak said Europe would pay an extra $400 billion in higher energy prices and could face a shortage of oil products. He did not give a timeframe.

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