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Gas prices: UK faces ‘economic collapse’ after imposing crippling Russian sanctions | United Kingdom | News UK News

He said: “There is this auction of outrage, which we all fully understand, against anything to do with Russia.

“So they ban this, ban that and ban everything, but in the end we are going to end up banning our own supplies.

“We want, of course, to disadvantage Russia as an essential tool of war.

“But we don’t want to put ourselves at a disadvantage to fall into some kind of dystopian economic collapse.

“We’re on the edge of that.”

Sir Alan has suggested the UK could buy gas from subsidiaries of Russian energy giant Gazprom, which have not yet been sanctioned.

He said: “Now, for example, there are Gazprom subsidiaries.

“Who are not sanctioned, who are not incorporated in Russia, who are incorporated in a case in the UK, who are essential for the proper flow of gas.”

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It comes as energy regulator Ofgem warned last week that annual energy bills for UK households would hit nearly £2,000 in April.

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This notice was published: 2022-03-08 01:32:00

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