Russia ready to re-route energy flows if hit by new sanctions

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Russia ready to re-route energy flows if hit by new sanctions
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Russia would be ready to re-route supplies to other markets should new Western sanctions target its energy sector, finance minister Anton Siluanov said on Wednesday.

Siluanov did not say how Moscow would divert its energy exports but said that Russia's foreign exchange reserves, National Wealth Fund and a budget surplus should shield its economy and banks from any possible sanctions hit.

"An intensification of inflationary pressures could also increase pressure on the European Central Bank and other central banks to tighten monetary policy," Moody's said.

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