'If you ban us...': How Russia warned U.S-led West of 'catastrophe' if it stops oil imports

Russia's invasion in Ukraine is in its second week. Western powers are going all out in its counter attack over Putin's decision to invade Ukraine. United States is mulling banning Russia's oil imports to further hurt its economy. Russian Deputy PM has warned that a Western ban on Russian oil imports could result in oil prices more than doubling to about $300 per barrel and prompt the closure of the main gas pipeline from Russia to Germany. In a statement on state television on Monday, Russian Deputy Prime Minister Alexander Novak said it was “absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market”. Watch this video for more. #Russia #Oil #Ukraine #U.S #Europe #Biden