Russian energy giant Gazprom is ready to stop gas supplies to the European Union. This will happen if the G20 and the G7 decide to cap the price of this commodity.
Breach of contracts will lead to termination of supplies
“Such a unilateral decision is, of course, a violation of the current contracts and will lead to the termination of supplies,” Alexei Miller, CEO of energy company Gazprom, told Russian state television. European customers began to limit their purchases of energy raw materials from Russia after the Russian Federation launched its invasion of Ukraine.
Kremlin spokesman Dmitry Peskov also issued a similar statement to Rossiya 1 television. “Many countries are already facing the consequences of their ill-considered decisions. And if they support this ceiling, the people of these countries will pay the price,” Peskov said.
Concerns about gas price caps
The EU and G7 leaders have been discussing the introduction of a price cap on natural gas supplies from Russia for several days. However, there is still no consensus on whether to introduce a price cap at all, let alone at what level. The main argument against capping is the fear that gas could stop flowing from Russia to the West.
