Russia warns the West: our sanctions will hurt you
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Tuesday
July 05, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
TUESDAY, JULY 05, 2022
Russia warns the West: our sanctions will hurt you

World+Biz

Reuters
09 March, 2022, 02:15 pm
Last modified: 09 March, 2022, 02:22 pm

Related News

  • Russian Duma speaker: Ukraine pushing Moscow to expand its military goals - RIA
  • After losing Luhansk, Ukraine forces gather for defence of Donetsk
  • Zelenskiy says Ukrainian forces undeterred; Russia hails Luhansk victory
  • Zelenskiy says Ukraine is in talks with Turkey, UN on grain exports
  • Ukrainians take up new positions as Putin proclaims victory in Luhansk

Russia warns the West: our sanctions will hurt you

Russia warned earlier this week that oil prices could shoot up to over $300 per barrel if the United States and European Union banned imports of crude from Russia

Reuters
09 March, 2022, 02:15 pm
Last modified: 09 March, 2022, 02:22 pm
A model of a pump jack is seen in front of the displayed sign "stop", US and Russia flag colours in this illustration taken 8 March 2022. REUTERS/Dado Ruvic/Illustration
A model of a pump jack is seen in front of the displayed sign "stop", US and Russia flag colours in this illustration taken 8 March 2022. REUTERS/Dado Ruvic/Illustration

Russia warned the West on Wednesday that it was working on a broad response to sanctions that would be swift and felt in the West's most sensitive areas.

Russia's economy is facing the gravest crisis since the 1991 fall of the Soviet Union after the West imposed crippling sanctions on almost entire Russian financial and corporate system following Moscow's invasion of Ukraine.

"Russia's reaction will be swift, thoughtful and sensitive for those it addresses," Dmitry Birichevsky, the director of the foreign ministry's department for economic cooperation, was quoted as saying by the RIA news agency.

US President Joe Biden on Tuesday imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion.

Russia warned earlier this week that oil prices could shoot up to over $300 per barrel if the United States and European Union banned imports of crude from Russia.

Russia says Europe consumes about 500 million tonnes of oil a year. Russia supplies around 30% of that, or 150 million tonnes, as well as 80 million tonnes of petrochemicals.

Russian President Vladimir Putin says the "special military operation" is essential to ensure Russian security after the United States enlarged the NATO military alliance to Russia's borders and supported pro-Western leaders in Kyiv.

Ukraine says it is fighting for its existence and the United States and its European and Asian allies have condemned the Russian invasion.

China, the world's second largest economy, has called for restraint but President Xi Jinping has cautioned that sanctions will slow down the world economy.

Top News

sanctions / Russia / Ukraine crisis / NATO / west

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The war in Ukraine catalyzed the gas crisis by taking out a crucial chunk of supply. Now the scramble to fill that gap is turning into a worldwide stampede, as countries race to secure scarce cargoes of liquefied natural gas.Photographer: Dwayne Senior/Bloomberg
    Natural gas soars 700%, becoming driving force in the new cold war
  • Sri Lanka admits bankruptcy, crisis to drag through 2023
    Sri Lanka admits bankruptcy, crisis to drag through 2023
  • Photo: Collected
    Case filed against Henolux group MD, wife for abetting Kushtia trader's suicide

MOST VIEWED

  • India was balanced in handling Ukraine conflict & protecting own interests: S Jaishankar
    India was balanced in handling Ukraine conflict & protecting own interests: S Jaishankar
  • Bank of England tells lenders to brace for economic storm
    Bank of England tells lenders to brace for economic storm
  • People walk towards a monument to the Liberators of Donbass in the rebel-held city of Donetsk, Ukraine 27 January 2022. REUTERS/Alexander Ermochenko
    Russian Duma speaker: Ukraine pushing Moscow to expand its military goals - RIA
  • A file photo of SpiceJet airctaft.
    Indian plane with over 100 passengers makes emergency landing in Karachi
  • Photo: Collected
    Vatican envoy in Hong Kong warns Catholic missions to prepare for China crackdown
  • The war in Ukraine catalyzed the gas crisis by taking out a crucial chunk of supply. Now the scramble to fill that gap is turning into a worldwide stampede, as countries race to secure scarce cargoes of liquefied natural gas.Photographer: Dwayne Senior/Bloomberg
    Natural gas soars 700%, becoming driving force in the new cold war

Related News

  • Russian Duma speaker: Ukraine pushing Moscow to expand its military goals - RIA
  • After losing Luhansk, Ukraine forces gather for defence of Donetsk
  • Zelenskiy says Ukrainian forces undeterred; Russia hails Luhansk victory
  • Zelenskiy says Ukraine is in talks with Turkey, UN on grain exports
  • Ukrainians take up new positions as Putin proclaims victory in Luhansk

Features

The OPEC+ group of 23 oil-exporting countries met virtually on Thursday. Photo: Bloomberg

OPEC+ did its job, but don’t expect it to disappear

3h | Panorama
Mirza Abdul Kader Sardar with AK Fazlul Haque, Chief Minister of Bengal, at Haque's reception at the Lion Cinema, Dhaka, 1941. Photo: Collected

Panchayats: Where tradition clings to survival

4h | Panorama
Illustration: TBS

Universal Pension Scheme: Has it been thought through?

6h | Panorama
Last month Swapan Kumar Biswas, the acting principal of Mirzapur United College, was forced to wear a garland of shoes for ‘hurting religious sentiments.’ Photo: Collected

Where do teachers rank in our society?

1d | Panorama

More Videos from TBS

Movies to watch out for this Eid

Movies to watch out for this Eid

21m | Videos
Sanko Optical Company is producing world class lenses in the country

Sanko Optical Company is producing world class lenses in the country

1h | Videos
Photo: TBS

Russian forces now in control of Luhansk

5h | Videos
Australia will help Bangladesh after the LDC graduation

Australia will help Bangladesh after the LDC graduation

5h | Videos

Most Read

1
TBS Illustration
Education

Universities may launch online classes again after Eid

2
Meet the man behind 'Azke amar mon balo nei'
Splash

Meet the man behind 'Azke amar mon balo nei'

3
Padma Bridge from satellite. Photo: Screengrab
Bangladesh

Padma Bridge from satellite 

4
World Bank to give Bangladesh $18b IDA loans in next five years
Economy

World Bank to give Bangladesh $18b IDA loans in next five years

5
Illustration: TBS
Interviews

‘No Bangladeshi company has the business model for exporting agricultural product’

6
Lee Hyun-seung (third from right), head of Korea Expressway Corp.'s Overseas Project Division, shakes hands with Quazi Muhammad Ferdous, head of the Bridge Authority of Bangladesh, after signing a contract on June 29 (local time).
Bangladesh

Korean company to oversee N8 Expressway in Bangladesh

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
Workers ready a passenger vessel with a fresh coat of paint to the deck ahead of the Eid-ul-Azha at a dockyard at Mirerbagh in South Keraniganj. The vessel getting the makeover plies the Bhandaria route and will take holidaying people from the city to their country homes. Eid will be celebrated on 10 June this year. The photo was taken on Monday. Photo: Mumit M

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net