BAKU, October 27. /TASS/. Imposing oil and gas price caps not only undermines market fundamentals, but also revokes the sovereign rights of countries to their resources, Chief Executive Officer of Rosneft Igor Sechin said at the 15th Verona Eurasian Economic Forum in Baku on Thursday.
"The introduction of caps is an attack not only on market fundamentals, but also on the fundamentals of sovereignty, meaning the idea is actually to abolish the sovereign rights of countries to their own resources because ‘right’ countries, which lack resources, need them more than ‘wrong’ ones. The US itself is, of course, not affected by any sort of restrictions," he noted.
A number of European experts and politicians are openly accusing the United States of the fact that it is profiting from the energy crisis that it has triggered, and benefiting from its allies’ problems, Sechin said, noting that gas prices in the US are 80% lower than in Europe. "Nevertheless, European officials offer their reasoning for the energy crisis, which is far from common sense," he added.
Politics has fully wiped away economics throughout the world, with a single energy market and rules no longer existing, Rosneft's chief stressed.
"The high volatility that has been observed over the last decade has now become limitless. The trends that we have outlined earlier and the ones that may arise unexpectedly, acting independently, without absorbing each other, are completely destroying the foundations of law, private property and the market like a hollow-charge projectile," he emphasized.
"The US aims to be the global leader with the help of diplomacy backed by the best fighting force in the world," Sechin concluded.