100 thousand dollars per ton .. a historical rise in the price of an important metal

US Secretary of State, Anthony Blinken, confirmed that the United States is discussing the Russian oil and gas embargo with allies, indicating that alternatives are being considered.

“We must work with allies to diversify the energy supply and make it more sustainable,” Blinken said from the Estonian capital, Tallinn.

Blinken concludes a short tour of the three Baltic states with the aim of reassuring them that NATO will ensure their security as Russia’s war with Ukraine continues unabated.

Blinken met top Estonian officials in Tallinn on Tuesday, a day after he received calls from Lithuania and Latvia for more support and a larger US and NATO presence to deter Russian interference.

In turn, the Prime Minister of Estonia said that some European countries depend more on Russian oil and gas than others, and that alternatives must be secured for them.

Western powers have been keen, so far, in their sanctions to avoid targeting the energy sector, which is essential to Europe, as Germany, for example, imports 55 percent of its gas needs from Russia. In terms of oil, Russia is the second largest exporter of crude in the world after Saudi Arabia.

On Monday, Blinken said in Riga, the Latvian capital: “We will defend every inch of NATO territory if it comes under attack. No one should doubt our readiness. No one should doubt our resolve.”

The leaders of the three Baltic states expressed serious concerns about Russian President Vladimir Putin’s intentions towards the former Soviet bloc countries now allied with the West.

Latvian Foreign Minister Edgars Rinkevix said Russia’s invasion of Ukraine showed the Baltic states in particular the need to strengthen air and sea defences, adding that Latvia would like its security cooperation with NATO to be “more efficient.”

Lithuanian President Gitanis Nauseda Blinken also told in Vilnius that the policy of deterrence is no longer sufficient and that “defense on the front lines” has now become a critical requirement, expecting Putin not to stop “at Ukraine if it is not stopped” strongly.

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