The head of Russia’s energy giant Gazprom has warned that the likely imposition of a price cap on Russian gas in Europe is in breach of contractual terms and would entail the termination of supplies to the energy-strapped continent.
Alexey Miller raised the alarm in an interview with Russian broadcaster Rossiya 1 on Sunday after the European Union introduced the eighth package of sanctions against Moscow which, among other things, sets a framework for capping the price of Russian seaborne oil exports at a level coordinated by the bloc’s allies in the Group of Seven (G7) countries.
“We are guided by the contracts that have been signed. Of course, such a unilateral decision is a violation of the essential terms of the contract, which entails the termination of supplies,” Miller told Rossiya 1.
The imposition of the price cap is scheduled to take effect on December 5 for crude oil and on February 5 for refined petroleum products. Some EU countries, including Hungary, were excluded from such measures as they import Russian oil through pipelines.
Moreover, the energy ministers of 15 EU countries sent in late September a joint appeal to the European Commission in which they advocated the introduction of a price cap for all gas imports into the EU, regardless of their origin, to curb rising energy prices......More Here----->
https://www.presstv.ir/Detail/2022/10/16/691047/Russia-Gazprom-Gas-price-cap-would-lead-supply-halt
