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Gazprom threatens to cut off gas supplies if price cap is set

Gazprom threatens to cut off gas supplies if price cap is set

We are guided by signed contracts. Alexei Miller said on Russian public television that such a unilateral decision is a violation of the existing terms of the contract, which entails stopping the supply.

Miller warned that this strict measure in response to the imposition of ceilings on Russian oil and gas prices was stipulated in a presidential decree signed by Russian President Vladimir Putin last March.

The Russian head of state himself has stated on several occasions that any attempt to reduce Russian oil and gas prices would mean that Russia would not export these products and advised the European Union not to violate the laws of supply and demand that govern international trade. .

Among the latest European Union sanctions against Russia is the obligation to impose a global ceiling on the prices of Russian oil and its derivatives, so that European shipping companies can transport it from Russia to third countries only if hydrocarbons are present. Sold for equal or less than scheduled

The oil price ceiling will not be a fixed amount, but rather a variable that puts the price of Russian crude oil below the world market price, reducing the revenue that Russia derives from selling the fossil fuels that it uses to fund the war against it. Ukraine.

The mechanism of sanctioning Russia was one of the topics that US Treasury Secretary Janet Yellen discussed with Eurogroup ministers, with whom she also discussed the need to speed up economic assistance to Ukraine.