US has interest in undermining Russia as energy supplier: Blinken

• 

The United States has a strategic interest in making Russia a less significant supplier of energy on the global scene over time, Secretary of State Antony Blinken underlined Friday.

"We have a strong interest, we and our allies, in degrading Russia’s status as a leading energy supplier over time. This could be a profound strategic shift," Blinken told a press briefing.

However, Blinken claimed, Washington had no interest in reducing the global energy supply at the moment in light of the immediate impact of higher prices, which would hurt Americans and provide Russia with more money from the energy it could sell.

European and British gas prices surged Friday, reaching record highest as crude oil spiked in light of the Ukraine crisis.

The surges stem from supply fears as sanctions fall on Russia over its special military operation in Ukraine to de-nazify the country and curtail NATO's eastward expansion.

Effect of sanctions already exceeded expectations

The impact of economic sanctions imposed against Russia by the West has already exceeded expectations, Blinken claimed during the press briefing.

"We've had already a dramatic impact far beyond - I think - what anyone would have expected on Russia," he told reporters in Belgium.

The suffering is likely to get worse before it gets better as long as the Ukraine crisis continues, the top diplomat added.

There have been several indications that the US and the West imposing sanctions on Russia would not only hurt Moscow's economy in the long run but would have extensive effects on the global economy.

The Russian operation in Ukraine triggered soaring oil prices: yesterday, the oil prices surged above $120 a barrel after Russia faced economic damage and isolation. 

The Russian Foreign Ministry stated on Tuesday that the Western sanctions have no legal grounds, and are unrelated to the current situation.