Saudi Energy Minister Prince Abdulaziz bin Salman warned on Saturday Western sanctions against Russia could result in a shortage of energy supplies in future.
Saudi energy minister warns sanctions could result in energy shortages
DUBAI, Feb 4 (Reuters) – Saudi Energy Minister Prince Abdulaziz bin Salman warned on Saturday Western sanctions against Russia could result in a shortage of energy supplies in future.
In answer to a question over how trade measures would affect the energy market, Prince Abdulaziz told an industry conference in Riyadh: “All of those so-called sanctions, embargoes, lack of investments, they will convolute into one thing and one thing only, a lack of energy supplies of all kinds when they are most needed”.
The prince also said Saudi Arabia was working to send Liquefied Petroleum Gas (LPG) to Ukraine. LPG is most commonly used as a cooking fuel and in heating.
The European Union has imposed a series of sanctions against Russia, reducing Russian energy exports, and other Western powers have also imposed measures as they seek to further limit Moscow’s ability to fund its war in Ukraine.