Russia warns Europe it will cut off oil and gas supplies if prices are capped

Euskaraz irakurri: Prezioak mugatuz gero petrolio- eta gas-hornidurak moztuko dituela ohartarazi dio Errusiak Europari

Putin has threatened to turn off gas and oil taps if the EU caps their prices. As he has pointed out, Russia is willing to fulfill their contracts but it will not supply gas, oil or coal to the detriment of its interests. This is how it has responded to the proposals of the G7 and the European Union to put a cap on the prices of Russian crude oil and gas.

“There are commitments established in the supply contracts. And if some kind of political action is taken that contradicts the contracts, we will simply not fulfill them,” he told the 7th Eastern Economic Forum in Vladivostok, the capital of the Russian Far East.

Putin has stressed that Russia will not supply “absolutely nothing if this contradicts our interests, in this case economic, we will not supply gas, oil or coal.”

The G7 has raised the possibility of allowing the transport of Russian oil and its derivatives globally only if the products are sold below a ceiling price, something that Moscow has categorically rejected.

This proposal tries to cut the financing of the Russian military campaign in Ukraine at a time when the European Union has acquired 54% of all the fossil fuels exported by Russia since the end of February for a value of 85.1 billion dollars.

Although there are no official figures available, it is estimated that Russia has invested around 100 billion euros in financing the war against Ukraine, so that the income from the export of fuels has become “the key factor” that makes possible the Russian military campaign.