Kremlin says Russian oil embargo would hurt Europe, not US

Some European Union foreign ministers are pushing for an oil embargo as part of a possible fifth round of sanctions against Russi, in an effort to punish Moscow over events in Ukraine.

“Such an embargo would very seriously impact the global oil market, very badly impact energy balance on the European continent,” Kremlin spokesperson Dmitry Peskov told reporters on a daily conference call.

Moscow itself has warned that EU sanctions on Russian oil could prompt it to close a gas pipeline to Europe. For now, the 27-nation EU, which relies on Russia for 40 percent of its gas, with Germany among the most dependent of the bloc’s large economies, is divided on how to tackle the energy issue.

“Americans would remain as they are and would feel much better than Europeans (in the event of oil embargo). This would be hard for Europeans -- such a decision would hit everyone,” Peskov said.

RHM/PR