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Russia to Respond to Gas Cap: Peskov

NATURAL GAS

In response to the EU setting a gas price cap, the Kremlin said it encroaches on market conditions.

  • "This is the violation of the market process of pricing, the encroachment on market processes. Any references to a ‘ceiling’ are unacceptable," according to Kremlin spokesman Dmitry Peskov.
  • "Certainly, time will be needed to thoroughly weigh up all upsides and downsides when working out solutions. You know the oil process is a bit protracted. Nevertheless, it [the Moscow’s response to the oil price cap] will be published. The same will be with gas," Peskov said.
  • Russia has so far struggled to put together a response to the G7 oil price cap, instead delaying its release.
  • EU nations are still buying Russian LNG cargoes to ensure suitable gas supply this winter.
Energy BulletsCommodities
Energy BulletsCommodities

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