The introduction of a gas price cap is an attempt at administrative regulation, and if it violates Gazprom's contracts, Russia reserves the right to retaliate, President Vladimir Putin said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 22nd December, 2022) The introduction of a gas price cap is an attempt at administrative regulation, and if it violates Gazprom's contracts, Russia reserves the right to retaliate, President Vladimir Putin said on Thursday.
"You know, this is a slightly different regulation than an attempt to regulate oil prices. Here, the European Commission talked more about the need to regulate the situation on the stock exchange, linking to LNG, saying that prices should be correlated with LNG prices and so on, but still it is an attempt to administratively regulate prices," Putin said at a press conference.
The president stressed that the Kremlin was "closely watching" this.
"We observe and reserve the right, if this entire proposed system develops towards administrative regulation, if this breaches our contracts, Gazprom's contracts with its counterparties, if there will be some kind of interference in these contracts, we reserve the right to think about whether we are obligated to fulfill these contracts," he added.
