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Putin threatens to ‘freeze’ west by cutting gas and oil supplies if price caps imposed
Speaking at an economic forum in Vladivostok, Vladimir Putin threatened to cut off energy supplies if price caps are imposed on Russia’s oil and gas exports.
The Russian leader described European calls for a price cap on Russian gas as “stupid” and said they would lead to higher global prices and economic problems in
Europe.
Last week,
G7 countries agreed on a plan to put a ceiling on Russian oil prices in an attempt to stem the flow of funds into the Kremlin’s war coffers.
Russia would walk away from its supply contracts if the west went ahead with its plans, Putin said.
The Russian president said:
Will there be any political decisions that contradict the contracts? Yes, we won’t fulfill them. We will not supply anything at all if it contradicts our interests.
He added:
We will not supply gas, oil, coal, heating oil – we will not supply anything.
Russia “would only have one thing left to do”, Putin said.
As in the famous Russian fairytale, we would sentence the wolf’s tail to be frozen.
He said Germany and western countries themselves were to blame for the Nord Stream 1 pipeline not being operational and that
Ukraine and Poland decided on their own to switch off other gas routes into Europe.
He added:
Nord Steam 1 is practically closed now.