EU Russian Oil Ban Would Raise Prices: Expert

Bans on Russian oil and gas will also be inflationary for the regions that impose them. Europe, for example, relies heavily on Russian energy. Now it's going to have to pay more to get its energy from somewhere else. China, on the other hand, is not cutting Russia off. Not only that, it's reportedly getting its oil and gas at a discount since Russia has no one else to sell it to.