MOSCOW/WASHINGTON, Jan 26 (PRIME) -- Germany insists on exemption of Russia’s oil and gas industry, excluding Nord Stream-2 pipeline, from possible measures blocking banks' access to U.S. dollar payments in case of sanctions, Bloomberg reported on Wednesday citing documents.
German officials said that if payments to the companies are restricted, gas supplies to Germany may be threatened.
U.S. State Department spokesman Ned Price said that the current volatility on the Russian financial markets will seem quietness in comparison with the consequences of military escalation at the Ukrainian borders.
"But the other point – and market participants know this – is that what we’re seeing now is nothing compared to what would befall the Russian Federation, the Russian economy if Russia’s invasion were to go forward," Price said.
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