If Russia invades Ukraine, oil prices will reach $120 per barrel, predicts strategist.

• On Wednesday, Brent crude oil contracts for April delivery were trading at approximately $90.50 per barrel, slightly lower than the previous day.
• Since the start of the year, oil prices have experienced consistent increases, starting at a price below $80 per barrel.
• Jake Sullivan, the White House national security advisor, cautioned on Sunday that an invasion might occur "at any moment."

If Russia invades Ukraine, the global economy will be "radically altered" and oil will "certainly" hit $120 a barrel, predicts veteran strategist David Roche.

Despite denying plans to invade Ukraine, Moscow has deployed 130,000 soldiers, tanks, missiles, and blood supplies to its border. The Kremlin demands that Ukraine never joins NATO and wants the alliance to withdraw from Eastern Europe.

Roche mentioned on CNBC's "Squawk Box Europe" on Monday that uncertainty about Russia's next actions is a significant concern, with the potential to greatly impact global markets.

If an invasion of Ukraine occurred and sanctions were imposed on Russia, preventing them from accessing foreign exchange mechanisms, messaging systems, or exporting commodities such as oil, gas, or coal, oil prices would likely reach $120 per barrel, according to the speaker.

On Wednesday, contracts for April delivery were trading slightly lower at around $90.50 per barrel. However, oil prices have been steadily increasing since the beginning of the year, when they were trading below $80 a barrel.

Jake Sullivan, the White House national security advisor, cautioned on Sunday that an invasion might occur "at any moment."

Roche predicted that a Russian invasion of Ukraine would have far-reaching economic consequences, despite the potential impact on oil prices. He cautioned that many market participants were underestimating the potential ramifications of the Russia-Ukraine crisis.

"I believe most investors are disregarding Mr. Putin as insignificant, a viewpoint I'm certain Mr. Putin would dispute," he said to CNBC.

If Putin takes a dramatic action on Ukraine, the U.S. and its allies may impose harsh sanctions on Russia, and European equity markets and the global economy outlook will be significantly altered.

The "mother of all sanctions" against Russia is being planned by U.S. lawmakers to protect Ukraine, which would have a devastating impact on the Russian economy. British and German officials have also warned that Moscow will face economic repercussions if it takes any aggressive action against Ukraine.

Russia is prepared to suffer significant financial losses and potentially start a full-scale war to achieve its political goals in Ukraine, according to expert opinions.

A poll of 5,529 people in seven EU member states at the end of January revealed that the majority of people in all surveyed countries believed Russia would invade Ukraine. Additionally, the majority of participants stated that NATO and the EU should defend Ukraine if Russia invaded.