According to Timesonline – for the first time since the cold war — Russia is considering arming its Baltic fleet with nuclear warheads, and has already indicated that it may point nuclear missiles at western Europe from bases in Kaliningrad and Belarus.
The warnings came 24 hours after one of Russia’s most senior military officer warned last night that Poland could face a nuclear strike for agreeing to accept a US missile defence shield on its soil.
Is hard to tell how this latest development will impact the oil prices. However, the effect may be immediate. Russia is a key player in the energy game because it is the world’s largest exporter of natural gas and second only to Saudi Arabia in terms of oil exports.
If Moscow decides to turn off the tap, it will not only send alarm signals to the European Union which depends on Russia’s natural gas for 25% of its needs, but most importantly – will give Russia more bargaining power with the West.
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