The West will be “frozen,” like the wolf’s tail in a well-known Russian fairy tale, if price limitations are placed on Russia’s oil and gas exports, said Russian President Vladimir Putin today. If this happens, Russia would shut off energy supplies.
Putin said that efforts by the West to control the price of Russian oil and gas as part of its sanctions over Ukraine were “dumb” and that Moscow would have enough consumers in Asia at an annual business gathering in the far-eastern port city of Vladivostok.
The 69-year-old Russian leader issued a warning to EU leaders that his nation will break its supply agreement if the West set price ceilings on its shipments.
If it is against our interests, in this instance our economic (interests), we won’t provide anything at all, added Putin. “No fuel oil, fuel gas, fuel oil, coal, nothing,”
If Putin does entirely halt oil and gas shipments to Europe, this would have disastrous effects on everyday people since it will raise already exorbitant energy costs.
Russia supplies the natural gas that runs Europe’s companies, produces electricity, and warms homes.
We won’t have any trouble selling it because of the enormous demand on the international markets, according to Putin.
Putin said, “An effort to regulate prices by administrative methods is simply ravings, it’s pure foolishness.” “It will simply cause prices to go up.”
He disagreed with the EU’s claim that Russia was using energy as a weapon by cutting off supply of gas to Germany via the Nord Stream 1 gas pipeline.
Putin reiterated the Russian claim that Western sanctions have made it difficult to maintain the last turbine still in use, forcing its closure.
More on this breaking news item will be revealed soon.