Putin: We will stop the flow of natural gas and oil if a ceiling is imposed on Russian energy sources

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But the Russian president has insisted that Moscow will resume supplying Germany with natural gas via the Nord Stream 1 pipeline once the damage to its turbine is repaired, and that it is not using natural gas as a weapon.

The president Vladimir Putin stated today that Russia will start supplying gas to Germany again through the Nord Stream 1 pipeline once the damage to its turbine is repaired and rejected Western claims that Moscow is using natural gas as a weapon.

Speaking as part of the speech he delivered at Eastern Economic Forum held in Vladivostoka city in Russia’s Far East, the Russian president said Germany and Western sanctions were to blame for the Nord Stream 1 pipeline not being operational, and that Ukraine and Poland had unilaterally decided to shut down other pipelines carrying natural gas to Europe.

Europe is facing a looming energy crisis and soaring energy bills after Gazprom completely suspended gas supplies through Nord Stream 1 after what it claimed was an oil leak in its turbine during maintenance work.

“Nord Steam 1 is effectively closed now”, Putin said, calling on Germany to return a turbine for the pipeline’s Portovaya compressor station, which would allow Russia to start sending gas again.

“There’s an oil spill there — it’s a potentially explosive situation, a fire hazard. The turbine can’t work. Give us a turbine and we’ll open Nord Stream 1 tomorrow. But they’re not giving us anything.”Putin said.

Russia will stop pumping natural gas and oil if a ceiling is imposed on the prices of Russian energy sources, he noted.

https://www.youtube.com/watch?v=n2b_0gfV_4E

The Russian president criticized Europe’s calls for a ceiling on the price of Russian natural gas, calling it “stupid” and said Russia would withdraw from its supply contracts if the West imposed a price ceiling on Russian exports.

Moscow will have no problem selling its vast energy resources around the world despite Western sanctions, the Russian president said, arguing that imposing a cap would lead to price increases and that global demand for Russian energy is high.

He also noted that Russia has agreed on all the basic parameters for the sale of natural gas to China through Mongolia.

In fact, regarding the country’s economy, Putin said the country’s budget will show a surplus this year as the Russian economy is on a path of slight contraction for this year.

The budget surplus will reach $24.5 billion in 2022; while GDP will decrease by “about 2% or even a little more,” Putin concluded.

RES-EMP

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