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Putin May Weaponize Oil as EU Sanctions Tighten: Energy Officials
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November 1, 2022
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0:20Now PlayingThe oil market could experience severe supply disruptions as the European Union tightens sanctions on Russia, according to energy historian Daniel Yergin.
“Vladimir Putin has used gas as a weapon,” Yergin told Bloomberg TV at the Adipec conference in Abu Dhabi. “Would he use oil as a weapon? It may be in his interests to constrict supply and see prices go up. You don’t have to take a lot off to create panic in the market.”
The oil market has tightened since Russia invaded Ukraine in February and the West imposed new sanctions on Moscow. Putin, Russia’s president, has responded by slashing flows of natural gas to Europe.
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