Washington [US], February 28 (ANI/Sputnik): The world has enough energy suppliers to provide an alternative to Russia in the gas market within the next five years, World Bank President David Malpass said on Sunday.

"Markets look forward, so they can look at the five-year time horizon and realize that there is a lot of energy available if it's mobilized. There are alternatives to the Russian dominance of the gas market, for example," Malpass said in an interview with the CBS.

Also Read | BREAKING: Reuters Reports That the Bank of China’s Singapore Division Has ‘stopped … – Latest Tweet by The Spectator Index.

However, he noted that in the short term, global energy markets have faced upward pressure due to the situation in Ukraine.

Malpass also said that Iran has the potential to support the oil market if there is progress on the Iranian nuclear deal. (ANI/Sputnik)

Also Read | BREAKING: The Washington Post Reports a US Official Saying Belarus is Set to Join Russia’s … – Latest Tweet by The Spectator Index.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)