The threat of energy sanctions against Russia, which could be imposed in the case of an invasion of Ukraine, may see the UK face record gas and petrol prices, British ministers have been warned, The Times has reported.
According to the British newspaper, senior officials in Whitehall expect the Kremlin to “weaponize” its vast natural energy resources by restricting supplies of gas to Europe.
Citing an anonymous senior official, the Times noted that the UK barely imports any Russian gas, but is exposed to the risk of rising wholesale prices, which could potentially cause a serious problem for the country. Other European nations, such as Sweden and Finland, are almost wholly dependent on gas imports from Moscow.