Britain faces soaring fuel prices and cyber attacks over support for Ukraine, Boris Johnson warns
- Boris Johnson told MPs the UK should brace for potential ‘blowback’ from Russia
- Oil and gas prices surged in wake of Putin’s decision to send forces into Ukraine
- Ally of Putin warned retaliatory sanctions would see prices more than double
- UK’s National Cyber Security Centre warned of ‘increased threat’ of attacks
Britain must be ready for soaring fuel prices and Russian cyber attacks over its support for Ukraine, Boris Johnson warned last night.
The Prime Minister told MPs the UK had to brace itself for potential ‘blowback’ from Moscow over our show of solidarity with the regime in Kiev.
Oil and gas prices surged yesterday in the wake of Vladimir Putin’s decision to order Russian forces into eastern Ukraine – with a close ally of the president warning that retaliatory sanctions would see gas prices more than double in Europe.
Meanwhile the UK’s National Cyber Security Centre warned businesses and institutions of an ‘increased threat’ of attacks.
Boris Johnson told MPs the UK had to brace itself for potential ‘blowback’ from Moscow over its show of solidarity with the regime in Kiev
Oil and gas prices surged in the wake of Vladimir Putin’s decision to order Russian forces into eastern Ukraine
Speaking in the Commons, the Prime Minister said Putin’s decision to send Russian troops into eastern Ukraine showed he was in ‘an illogical and irrational frame of mind’.
He told MPs: ‘One of the things we will have to consider in the weeks ahead, as we continue to lead the world in our support for Ukraine, is the blowback for this country. We must be absolutely frank that there will be cyber attacks. We must understand that and be prepared for it.’
Security sources are particularly concerned about the threat posed to ageing computer systems in the NHS and local authorities.
One said: ‘Russia has some of the most advanced cyber capabilities so it is a serious concern. It’s also possible the Kremlin could licence some of the cyber crime groups it shelters to take action directly. Even if the UK is not directly targeted by Moscow there could be serious consequences here.
‘The trouble is that once this stuff is in the system it can spill out all over the place, especially where you have organisations running old systems.’
Mr Johnson also acknowledged that energy prices would be pushed to new levels as a result of the crisis. Former minister Robert Halfon called for financial support to help families cope with the reality that ‘the war is likely to increase the cost of living for ordinary folk across the country’.
Mr Johnson replied: ‘He is quite right that one of the risks of Putin’s venture is that there could be a spike in gas prices, in oil prices…
‘The Government will do everything we can to mitigate it and help the people in this country but it’s one of the reasons why the whole of Western Europe has got to end their dependence on Russian oil and gas.’
Gas prices jumped by almost 11 per cent yesterday and Brent crude closed at almost $100 a barrel – a seven-year high.
Former Russian president Dimitry Medvedev, a close ally of Putin, warned that retaliatory sanctions would see gas prices more than double in Europe
Former Russian president Dmitry Medvedev, a close ally of Putin, said Germany’s decision yesterday to cancel Nord Stream 2 – the underwater pipeline due to carry Russian gas to Western Europe – would see Europeans ‘soon paying 2000 euros per thousand cubic meter of gas’. This is more than double the current price of around 900 euros.
While the UK is not as dependent as other European countries on Russian gas, we will still feel the effect of a rise in global prices.
The energy regulator Ofgem warned any rise could lead to a further £700 hike in the price cap in October, on top of the £700 rise coming into effect in April.
The RAC’s Simon Williams said petrol prices were set to top £1.50 per litre, adding: ‘Russia’s decision to invade Ukraine is already causing oil prices to rise.’
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