Western economies in general and the European Union and Britain in particular are experiencing the highest energy prices and worst inflation shocks in decades after unilaterally deciding to dramatically reduce energy imports from Russia. Moscow has repeatedly warned that the move would be ruinous for Europe's economies

G7 countries have got another thing coming if they think they can "dictate" energy prices to Russia via a price cap, Russian President Vladimir Putin has said.

“You asked about capping prices for our energy resources...This is an absolutely stupid decision. If someone tries to implement it, it will not lead to anything good for those who do so," Putin said during a panel discussion at the Eastern Economic Forum in Vladivostok on Wednesday.”


Commenting on the energy crisis being experienced by European countries, the Russian president emphasized that "it's impossible to impair objective economic laws -everything will come back [on those who do so] like a boomerang." Restrictions will only lead to new supply imbalances and price hikes, Putin stressed.

"After all, what is [already] happening in European markets is the result of the 'work' of European specialists and the European Commission," he said, referring to Brussels' demands to buy gas using volatile spot prices, and then to try to reverse course using administrative methods.

Putin also warned that Russia would simply stop selling its energy resources abroad if it was contrary to its interests.

“There are contractual obligations, supply contracts, and if any decisions of a political nature are made which contradict the contracts, we simply won't fulfill them. And in general we will not supply anything at all if it is contrary to our interests, in this case economic interests. We will not supply gas, nor oil, nor coal, nor fuel oil," Putin said.


Those trying to impose something on us are in no position to dictate their will to us. Freeze, wolf tail, freeze!" Putin quipped, quoting from the Russian fairy tail The Fox and the Wolf, in which the fox tricks the wolf into ice fishing with his tail, ultimately leaving the wolf frozen to the ice.


While Russia has enough natural resources to meet the demands of any country ready to work with it, it can and should also direct these resources toward its own development, Putin said. Up to now, the president noted, energy cooperation has been "very profitable" for the Europeans, who had enjoyed energy prices "orders of magnitude" below more expensive liquefied natural gas deliveries for decades.



Source: Sputniknews

I see Russia losing the war in Ukraine eventually

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God1000:
I see Russia losing the war in Ukraine eventually

You see nothing
Hope you're not one of those supporting Israel and US bombing of a sovereign country?? I know you guys won't talk now but assuming it's Russia, the media would've been full of it...

BentizilL:

You see nothing
Hope you're not one of those supporting Israel and US bombing of a sovereign country?? I know you guys won't talk now but assuming it's Russia, the media would've been full of it...

bro na dem…..