蜜芽传媒

Both the US and UK are set to ban the import of Russian oil - and the energy giant Shell has also pledged that it will no longer buy oil from Russia. Russian oil currently makes up about 8% of Shell's working supplies and one of the firm's refineries, which produces diesel and petrol and other products, is also among the biggest in Europe.
European Union countries have agreed to gradually reduce their dependence on Russian gas.

Before those announcements, Russia said it might close its main gas pipeline to Germany. But in this confrontation, who is more vulnerable as a result of any drying up of this trade? Vladimir Slivyak, an engineer and chairman of Ecodefence - a Russian NGO - joined Newsday from Germany to share his perspective.

鈥淎bout half of the Russian budget comes from the export of a fossil fuel鈥� so Russia will feel the consequence of Shell and other companies going out of Russia. That will hit the economy very hard. People have started to feel the consequences now鈥� [oil and gas sanctions] will very likely bring the Russian economy to collapse, like in the 1990鈥檚 when there was hype-inflation and it was hard to survive on your salary.鈥�

鈥淚f they [close the gas pipeline to Germany] the economy will be destroyed.鈥�

(Pic: Closed Moscow shop of Dior - one of many brands to have closed operations in Russia; Credit: EPA)

Show less