Russia will fulfill its contracts, but Russia won’t supply oil, gas, or coal to the detriment of its interests. This was the warning that Russian President Vladimir Putin issued today, before the European Union and G7 proposals to set a price cap on Russian oil and gas.
“There are obligations set out in the supply agreements. He said that if there is any political action that goes against the supply contracts, we will not honor them,” he stated to the 7th Eastern Economic Forum in Vladivostok. Vladivostok is the capital of Russia’s the Far East.
Putin stated that Russia would not supply “absolutely anything” if it was against our interests, in this instance economic.
G7 members have suggested that Russian oil and derivatives could be transported globally only if they are below a certain price, which Moscow strongly opposes.
This proposal seeks to reduce the funding of Russia’s military campaign in Ukraine, at a moment when the European Union has purchased 54% of all fossil fuels exported from Russia since February. Its value is 85.1 billion dollars.
Official figures are not available but it is believed that Russia has spent around 100,000 million euros to finance the war against Ukraine. This means that Russia’s income from exporting fuels has been “the key factor” in making the war possible. Russian military campaign.
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