Russia threatens to cut off gas supply to Europe

Russia warned it might close off its main gas pipeline to Germany

Russia warned it might close off its main gas pipeline to Germany if the West went ahead and banned Russian oil.

Qazet.az reports that deputy Prime Minister Alexander Novak said such a move would lead to "catastophic consquences" for global supply and lead to the oil price doubling to $300 a barrel.

The US has been exploring a potential ban with allies as a way of punishing Russia for its invasion of Ukraine. But Germany and the Netherlands rejected the plan on Monday.

The EU gets about 40% of its gas and 30% of its oil from Russia, and has no easy substitutes if supplies are disrupted.