Moscow-Sana
Russian Deputy Prime Minister Alexander Novak revealed that most European companies have switched to rubles in payments for Russian gas.
Russia Today website quoted Novak as saying during a press conference on the sidelines of the Petersburg International Economic Forum that "95 percent of the gas supplied to Europe is now paid in rubles," noting that the European Union's losses due to its embargo on oil and its products from Russia and its efforts to abandon Russian natural gas supplies amounted to about 400 billion euros.
Novak said that in 2021 Europe paid between 350 and 400 billion euros for energy resources.. This year, because of its decisions regarding the embargo on oil and petroleum products from Russia, and because of statements about the gradual abandonment of Russian gas, which caused prices to rise, it will pay more than An additional 400 billion euros.
Regarding the global oil market, Novak said, "This market is still balanced, but it is subject to significant political risks," adding, "What will happen to the oil market will depend on the reconfiguration of supply chains.
For his part, the head of the Russian company's Gazprom administration, Alexei Miller, considered that the European regulators are responsible for the rise in gas prices.
"We are witnesses to price shocks," Miller said during his participation in the Petersburg International Economic Forum. "We have witnessed severe fluctuations in commodity markets and very high inflation, but all of this did not start yesterday, not today, but the responsibility of the European regulators bears the responsibility."
Miller added, "The third energy package removed the link between gas pricing and oil prices in the market, and now all buyers dream of buying gas on the basis of linking it to oil," pointing out that Europe's abandonment of long-term contracts led to a decline in investments in production and left European distribution centers without gas.
Miller indicated that Gazprom was forced to reduce the pumping of gas through the Nord Stream to Europe for technical reasons related to Western sanctions, but the prices rose significantly, stressing that the gas pipeline (North Stream 2) enjoys the necessary pressure level and it is still possible to supply Germany with gas through it, but it has not been operated. Because he did not have a license.
Miller revealed that Gazprom increased gas supplies to China between January and May of this year by 67.5 percent, describing Russia as a supplier of energy stability to its friends.
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