Kremlin Spokesman: US Has Clearly Declared Economic War Against Russia

JAKARTA - The Kremlin accused the United States on Wednesday of declaring economic war on Russia, sowing chaos through energy markets and making the United States notice they are thinking carefully about how to respond to Russia's oil and energy ban.

Russia's economy is facing its most severe crisis since the fall of the Soviet Union in 1991, after the West imposed crippling sanctions on nearly all of Russia's financial system and companies following Moscow's invasion of Ukraine.

Kremlin spokesman Dmitry Peskov called Western sanctions a "hostile bacchanalia" that has roiled global markets, sternly warning it was unclear how far turbulence in global energy markets would continue.

"You see the bacchanalia, the hostile bacchanalia, which the West has sown, that, of course, makes the situation very difficult and forces us to think seriously," Peskov said.

Asked about the ban on Russian oil and energy imports announced by US President Joe Biden, Peskov said Russia has been, is, and will be a reliable energy supplier.

Peskov further emphasized that Moscow would, however, now think very seriously about the response.

"The situation demands a rather in-depth analysis, a decision announced by President Biden," Peskov said.

"If you ask me what Russia will do, Russia will do what is necessary to defend its interests. The United States has clearly declared economic war against Russia and is waging this war," he stressed.

As previously reported, U.S. President Joe Biden announced a ban on imports of Russian oil and other energy on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move he acknowledged would raise U.S. energy prices.

"We are banning all imports of Russian oil and gas energy. That means Russian oil will no longer be accepted in US ports and the American people will deal another powerful blow to (Russian President Vladimir) Putin's war machine," Biden told reporters at the White House.