EU Sanctions on Russian Energy: Impact and Retaliation

Russia has criticized the recent sanctions imposed by the European Union on its oil and gas sectors, warning that the punitive measures would not only harm developing nations but also backfire on the EU.

The sanctions package, which marks the 20th of its kind, seeks to pressure Moscow over its military activities in Ukraine by further restricting the transportation of Russian commodities. The move comes during a global energy crisis, a situation exacerbated by resource shortages affecting many regions worldwide, noted Russian Foreign Ministry spokeswoman Maria Zakharova at her weekly press conference.

Zakharova pointed out that the sanctions threaten to destabilize energy markets and inflate energy prices, complicating energy accessibility for developing economies. Additionally, restrictions on fertilizers pose risks to food security. In response, Russia vowed to enact stringent countermeasures to protect its interests.

(With inputs from agencies.)