Russia warns of $300 oil, threatens to cut off European gas if West bans energy imports

CNBC/Sam Meredith/3-8-2022

“It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market. The surge in prices would be unpredictable. It would be $300 per barrel if not more.” – Russian Deputy Prime Minister Alexander Novak

USAGOLD note: Nothing, in our view, could be more stagflationary than $300 oil. Even $200 oil will be a major problem.