Russia Hints at Halting Oil and Gas Supplies to Countries Applying Price Caps

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] On the 2nd (local time), Russia announced that it will cut off oil supplies to countries that impose a price cap on its oil.

According to major foreign media, Dmitry Peskov, Kremlin spokesperson, warned during a telephone conference that day, "We cannot cooperate with those who do not follow market principles."

He said that they are studying the impact of the introduction of the price cap and pointed out, "One thing is clear: such a move will cause serious instability in the oil market."

Peskov also hinted at the possibility of further suspension of gas supplies to Europe, which is currently temporarily halted due to maintenance issues.

When asked about the future outlook for gas supplies, he replied, "Currently, only one gas pipeline turbine is operating, and there are no spare parts. So, think about it yourselves."

He added, "The gas supply suspension is not the fault of Gazprom, the Russian state-owned gas company. Therefore, the reliability of the entire system remains in a dangerous situation."

Peskov claimed that it is European citizens who are paying the price due to sanctions against Russia.

He said, "The energy market is booming right now, and it is Europe that has created a situation where it unfairly pays a lot of money to import liquefied natural gas (LNG) from the United States due to anti-Russian measures."

He added, "While American companies are getting richer, European taxpayers are getting poorer."

This content was produced with the assistance of AI translation services.