Britons Will Feel the Economic Consequences of Sanctions Against Russia: Truss

Britons will feel the economic consequences of sanctions against the Russian Federation, including in the energy sector, stated UK Foreign Secretary Liz Truss during a speech in Parliament, as reported by RIA Novosti.

“Of course, these sanctions will have economic costs for Britons in terms of electricity and the cost of living, but these costs are nothing compared to what the people of Ukraine are facing amid this horrific barbarism. The price of what will happen if Putin is allowed to succeed is far greater. As you know, if Putin is not defeated in Ukraine, there will be no limits to his ambitions,” said the UK's Foreign Secretary.

Earlier on Tuesday, British-Dutch company Shell announced its intention to exit all oil and gas projects in Russia, and as a first step, it will cease all purchases of Russian oil. Previously, on February 28, Shell had announced its withdrawal from joint ventures with Gazprom and Gazprom Neft, including Sakhalin-2, Yenisei, and Salim Petroleum, as well as ceasing participation in the Nord Stream 2 gas pipeline. The company's decision was influenced by the events in Ukraine.