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Eastern Economic Forum

Russia to support friendly states with resources in case of oil and gas price cap

Any actions, including on establishment of a price cap for oil and gas create conditions for having deficit and increase price volatility, Energy Minister Nikolay Shulginov said

VLADIVOSTOK, September 6. /TASS/. Russia will continue supplies of energy resources to friendly states and redirect supplies in case G7 countries set a cap for Russian oil and gas, Energy Minister Nikolay Shulginov told reporters on the sidelines of the Eastern Economic Forum.

"Any actions, including on establishment of a price cap [for oil and gas] create conditions for having deficit and increase price volatility. Russia as a reliable partner will be providing energy resources to partners in friendly states and, certainly, saturate the domestic market," the Minister noted.

Russia will stop supplies of oil and petroleum products to countries and companies introducing the price cap, Deputy Prime Minister Alexander Novak said earlier.

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Foreign policy Eastern Economic Forum

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