Kremlin: Unclear how fat turbulence in energy market goes

A Kremlin spokesperson said on Wednesday that the United States has declared an economic war on Russia with the latest decision to ban oil imports, as reported by Reuters.

Additional takeaways

"West is making us think carefully about the situation, we need to make a deep analysis of the situation."

"We have always said we were, are and will be a reliable energy supplier."

"We are seeing turbulence in energy markets."

This is a potentially dangerous and undesirable scenario."

"Crimea is a Russian region and must be recognised as so."

Luhansk and Donetsk are sovereign republics and must be recognised as so."

"Russia will defend its interests."

Market reaction

Crude oil prices edged lower after these comments and the barrel of West Texas Intermediate (WTI) was last seen losing nearly 3% on the day at $121.00.