Russian President Vladimir Putin calls the gas price cap a vain attempt to make gas prices rise. He calls the Western measure desperate enacted by those hungry for supplies and scrounging for them.
Western Economies Fail due to Lack of Energy
The Kremlin leader called the attempt by the Bloc to dictate the EU gas price cap a sore attempt and said it would not prosper. When confronted with the current situation, EU politicians consider how to avoid paying market prices for gas and restrict the price through administrative decisions, reported RT.
Another ridiculous idea that will drive up prices in the international markets, including those in Europe, was when he spoke at a plenary session of the Eastern Economic Forum (EEF).
The Russian president Putin continued, "Administrative decisions, that only arise in disruptions and higher prices, cannot solve anything related to the economy and world markets."
Furthermore, it was stated that while Russia always preferred long-term contracts for gas sales, the current scenario in the energy market is the result of punitive measures and other actions taken by Brussels, along with the switch to spot-market trading, noted the Good Word News.
Putin remarked that even though they had often argued for prices to be decided by long-term contracts and connected to certain market segments, like the cost of oil and petroleum products, the Bloc wanted them to be linked to spot prices.
The Bloc, due to the high prices of their making, wants to get gas cheap with a price limit.
Brussels Authors Sanctions
Members of the Bloc are falsely accusing Moscow of turning gas into a weapon. Putin claimed that all contracts would be fulfilled by gas shortages brought on by Ukraine, Poland, and Canada and caused by sanctions, citing CSM Times.
The president continued by declaring that notwithstanding Moscow no longer considering the EU as its main export market, Moscow is still prepared to provide energy to those who require it.
EU nations benefited greatly from the natural gas supplied by Russia, and for decades, the economies of the major European nations also had a distinct comparative advantage.
Bloc members had been paying lower for the energy in long-term contracts till now.
He added if Brussels does not want it, there is no loss because there are other markets for oil and gas in the world, like Asia.
Energy Exports for the EU
From the sanctions and other ploys the west has used against Moscow, Vladimir Putin has had enough. He vows that the US and its allies will not receive anything if it conflicts with Russia's national interest, mentioned The Press United.
He made it clear during the EEF meeting that they would not supply gas, oil, coal, or fuel oil if this were to conflict with the conditions of the contract and interests, which in this case would be economic concerns. Those who want to enforce something on us can no longer force our conformity today.
Russian President Vladimir Putin calls the EU gas price cap attempt useless because it will spawn problems, the west will not prosper, not will they get any oil or gas cheap.
