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Putin asserts that Russia will cease oil and gas exports if price ceilings are enforced.
Putin stated at an annual economic summit in the far-eastern port city of Vladivostok that attempts by the West to control prices for Russian oil and gas were’stupid’ and that Moscow will have sufficient consumers in Asia.
He stated, “The demand is so high on worldwide markets that we will have no trouble selling it.”
Putin continued, “Any attempt to regulate pricing through administrative means is just foolishness.” It will only result in a price increase.
He dismissed the EU’s claim that Russia was employing energy as a weapon by stopping gas supplies to Germany through the Nord Stream 1 pipeline.
Putin restated the Russian position that Western sanctions had impeded the maintenance of the final operational turbine, forcing its shutdown.
This is breaking news, and there will be more to come…
Putin asserts that Russia will cease oil and gas exports if price ceilings are enforced.