Free Trial

Putin: Russia Has Nothing To Do With Gas Price Rises In Europe

ENERGY SECURITY

Russian President Vladimir Putin has delivered remarks on European gas supply following high-level bilateral meetings at the Shanghai Cooperation Organisation summit in Uzbekistan.

  • Putin used remarks to argue that the European energy price crisis is largely a result of "green policies" rather than the war in Ukraine saying, "we have nothing to do with rise in gas prices in Europe," rather, Putin says the "energy crisis in Europe started before Russia's military operation in Ukraine" and a "green agenda" pursued by European policymakers contributed current elevated prices.
  • Putin said that Russia remains a dependable energy supplier and proffered a number of solutions including asking "Ukraine to open one of the gas routes to Europe," and if Europe needs gas then the EU and US should "lift sanctions against Nord Stream 2," and provide "guarantees that sanctions against Nord Stream 1 equipment are lifted."
  • Moscow has consistently argued that supply shortfalls via the Nordstream 1 gas pipeline are due to maintenance problems exacerbated by western sanctions - a claim disputed by Western leaders who believe that Russia disrupts gas flows as a means to create political instability in Europe.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.