Putin says Russia will halt oil and gas supplies if price caps are introduced
Russian President Vladimir Putin said Russia will halt oil and gas supplies if price caps are imposed on Moscow’s energy resources.
Putin told an annual economic forum in the Far Eastern port city of Vladivostok that Western attempts to cap Russian oil and gas prices as part of its sanctions on Ukraine are “foolish”, adding that Moscow will have enough customers in Asia .
“Demand in world markets is so great that we will have no problem selling it,” he said.
“An attempt to limit prices by administrative means is just talk, it’s sheer nonsense,” Putin added. “It will only lead to a rise in prices.”
He dismissed the EU’s argument that Russia was using energy as a weapon by halting gas supplies to Germany via the Nord Stream 1 gas pipeline.
Putin reiterated Russia’s argument that Western sanctions have hampered maintenance on the last turbine still in operation and forced its shutdown.
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Russian President Vladimir Putin said Russia will halt oil and gas supplies if price caps are introduced