Russian Finance Minister Anton Siluanov said that Moscow will search for alternative markets for its energy supplies if the West shuns Russian oil and gas amid a standoff over Ukraine.

Siluanov was talking to reporters after Kremlin-controlled energy giant Gazprom halted gas supplies to Poland and Bulgaria, who had refused to meet Moscow’s demands to pay for the gas in roubles.

“We understand that if Western countries refuse (to buy Russian energy supplies) we would search for other sources of our energy consumption,” Siluanov said.

Fears that Russia could halt supplies to others, in particular Germany – Europe’s industrial powerhouse which relied on Russia for more than 50% of its gas imports in 2021 – sent gas prices soaring and added to jitters over the global economic impact of what Russia calls its “special operation” in Ukraine.
Source: Reuters (Reporting by Reuters; Editing by Hugh Lawson)