The USA preparations to impose an embargo on Russian oil were the final blow to the energy market.
European natural gas prices, which have been on the rise for a while due to the supply concerns created by the Russia-Ukraine war, reached a new record level with an increase of 17 percent due to the news flow regarding embargo plans.
While the USA Secretary of State Antony Blinken announced that the Biden administration and its allies are considering the embargoes on Russian oil, concerns about energy prices, which have recently gained momentum due to the war, have increased.
"We are now talking to our European partners and allies to look into a coordinated way to ban Russian oil imports, ensuring that there is an adequate supply of oil in global markets," Blinken told CNN on Sunday.
According to sources familiar with the matter who spoke to Bloomberg, the Biden administration could take the decision to ban Russian oil without European involvement.
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