Putin denies using gas as a weapon and calls for an emergency summit


Russian President Vladimir Putin said on Wednesday that Russia was not using gas as a weapon and was ready to help ease Europe’s energy crisis, as the European Union called for an emergency summit to tackle the problem of rising prices.
Energy demand increased as economies recovered from the pandemic, which led to higher oil, gas and coal prices, which led to increased inflationary pressures and undermined efforts to reduce the use of polluting fossil fuels in the fight against global warming.
The gas shortage in Europe has highlighted Russia, which provides a third of the region’s supplies, prompting European politicians to blame Moscow for not pumping enough of it.
Putin told an energy conference in Moscow that the gas market was not balanced or predictable, particularly in Europe, but added that Russia was fulfilling its contractual obligations to supply customers and was ready to increase supplies if asked.
He dismissed any notion that Russia is using energy as a weapon, saying: “This is just politically motivated chatter that has absolutely no basis.” The European Union will hold an extraordinary meeting on October 26 to discuss the price hike.
Putin commented on oil prices, saying that the price of oil may reach $100 a barrel, adding that Moscow and its partners in the OPEC + group of producing countries are seeking to achieve stability in the global market.
“This (a price of $ 100 a barrel) can be reached,” Putin said. “We and our partners in OPEC + are doing everything we can to stabilize the markets.” He added, “We will not allow sharp fluctuations in prices, this is not in our interest… We are not trying to restrict production so that prices will skyrocket… We support smooth and balanced movements (in oil production)”.


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