Russia has done some serious damage to its otherwise-good reputation for security of supply. Europe is going to have to take a hard look at their exposure and whether there's a way to fix that.

I think Russia has made a serious mistake. It has demonstrated its willingness to use its gas as a political and economic tool.

It's hard to say we had been thinking about this sort of problem. The traditional supply disruption you think about is a political one, like the 1973-1974 embargo. Here, you had a situation where a local refining problem could become a global one.

If you look at it from a security of supply perspective, the US will not accept anything which undermines its coal in the power generation sector.

It's shocking. There is no fundamental reason. Prices are talked up by politics, stock levels and security concerns.

This tribunal was voted on by Russia and by all the members of the (U.N.) Security Council. It's a United Nations tribunal. It's not an American tribunal. It's not a NATO tribunal. And the Yugoslav authorities know that.