Vladimir Putin is willing to honor the contracts, but if political measures are taken that go against what has been signed, he will break them. He has assured that he will not deliver “absolutely nothing” against his interests.
Putin has threatened to shut off the gas and oil taps if the EU caps their prices. As he noted, Russia willing to fulfill their contracts but it will not supply gas, oil or coal to the detriment of its interests. For example, it has responded to proposals from the G7 and the European Union to put a limit on the prices of Russian crude oil and gas.
“There are commitments in the supply contracts. And if political action is taken that is contrary to the contracts, we will simply not fulfill them,” he told the 7th Eastern Economic Forum in Vladivostok, the capital of Russia’s Far East. .
Putin has stressed that Russia “will supply absolutely nothing if it conflicts with our interests, in this case economically, we will not supply gas, oil or coal”.
The G7 has raised the possibility of allowing the transportation of Russian oil and its derivatives worldwide only if the products are sold below a cap price, something Moscow has categorically rejected.
This proposal seeks to cut funding for Russia’s military campaign in Ukraine at a time when the European Union has since the end of February acquired 54% of all fossil fuels exported by Russia worth USD 85.1 billion.
Although no official figures are available, it is estimated that Russia has invested about 100 billion euros in financing the war against Ukraine, making revenue from fuel exports “the key factor” that makes the Russian military campaign possible.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
