Bloomberg reported on a possible EU review of the abandonment of Russian oil

The European Union (EU) may postpone the decision to abandon Russian oil amid supply problems from the Middle East due to Iran's closure of the Strait of Hormuz. This was reported by Bloomberg on March 20.

"The planned phase-out of Russian gas was based on expectations that the EU would be able to receive more supplies from the Middle East and the United States... There is a growing risk that the planned ban on Russian oil supplies will be postponed," the publication says.

It is noted that, according to forecasts of the European Central Bank, a long-term failure of energy supplies will lead to an increase in inflation in the eurozone to 6.3%. A short-term recession in the economy is possible.

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Kremlin spokesman Dmitry Peskov stressed on March 20 that the EU, by rejecting Russian gas, "continues to shoot its voters in the foot." He noted that if alternative markets, which are now in dire need of petroleum products, are "more attractive," Russia will focus on them first.

Bloomberg reported on the same day that the cost of liquefied natural gas in Europe increased by 35% amid Iran's attack on the oil and gas company's facilities in Qatar.

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