The executive director (CEO) of the Russian energy company Gazprom, Alexei Miller, warned this Sunday that the attempt to impose a ceiling on Russian gas prices in Europe will mean a cut in supply.
“We are guided by the signed contracts. A unilateral decision like this is a violation of the current conditions of the contract that implies the cessation of supply,” Alexei Miller said on Russian public television.
Miller warned that this drastic measure in reaction to the imposition of price caps on Russian hydrocarbons is provided for in a presidential decree signed last March by Russian President Vladimir Putin.
The Russian State Chef himself stated on several occasions that any attempt to limit the prices of Russian oil and gas would mean that Russia would not export these products and advised the European Union (EU) not to violate the supply laws and try to regulate International Trade.
Among the latest sanctions imposed on Russia by the EU is the commitment to impose a global cap on the price of Russian oil and its derivatives, so that European shipping companies will only be able to transport it from Russia to third countries if the hydrocarbons have been sold to a price equal to or less than the established price
The oil price ceiling will not be a fixed amount, but a variable that places the price of Russian crude oil below the world market price, thus reducing the income that Russia obtains from the sale of fossil fuels and uses to finance the war. against Ukraine.
This mechanism to punish Russia was one of the topics discussed by the US Treasury Secretary, Janet Yellen, with the Eurogroup ministers, with whom she also discussed the need to speed up economic aid to Ukraine.
Source: TSF
