It would be “insane” for Russia to invade Ukraine, but that scenario is “not impossible,” said Carl Bildt, a former prime minister of Sweden.
Bildt said there are two scenarios in which Europe's gas supplies will be threatened.
The first is if there's fighting and an invasion into Ukraine."It'd be fairly difficult to see that — while the tanks are rolling and shooting on the ground — that the pipes will deliver gas just meters below them," he said. Gas flow may also be cut if Russia wants to retaliate against heavy Western sanctions."The only forceful, really dangerous thing that they can do is to cut the gas supply then," he said.
That would have a detrimental effect on Europe, and discussions are still ongoing about how to handle that possibility, he added.A senior administration official pointed out, however, that the Russian economy is in need of revenue"at least as much as Europe needs its energy supply."— CNBC's Amanda Macias and Silvia Amaro contributed to this report.
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