Putin: Western Policies From Last 10 Years to Blame for Soaring Energy Prices
03:29 GMT 20.07.2022 (Updated: 06:46 GMT 20.07.2022)
© Sputnik / Sergei Savostyanov
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TEHRAN (Sputnik) - Russian President Vladimir Putin said on Wednesday that fuel prices have been skyrocketing as a result of Western policies, specifically of those enacted over the last several years.
Answering a question of whether Russia is being rightfully accused of the energy crisis and soaring fuel prices, Putin told journalists after the trilateral summit on Tuesday that the current surging energy prices are the result of the policies enacted by the US and company over "the previous decade."
"Capital investments in the traditional energy sector have decreased due to earlier political decisions [of the West]," Putin told journalists. "Banks do not finance, insurance companies do not insure, local authorities do not allocate land for new developments, do not develop pipelines and other means of transportation."
The president added that Europe has neglected the traditional energy sources and placed a premium on alternative energy sources.
"I have said this many times before, and I do not know if I should go into detail about the energy policies of European countries that have neglected the importance of traditional energy and have relied on unconventional energy," he continued.
"They are big specialists in unconventional relations. So they decided to put a premium on unconventional energy in the field of energy - solar and wind energy. It turned out to be a long winter. There was no wind. And that's it."
Touching on restriction against Russia's oil exports, the Russian president underscored that such a move would effectively result in a situation similar to that of the current surge of gas prices. "It is even surprising that people with higher education are saying this. The result, result will be the same: prices will rise. Oil prices will skyrocket," he stressed.
Gazprom Will Fulfill Obligations on Gas Supplies
Shifting responsibility onto Russian gas giant Gazprom and Moscow for energy issues in Europe has no basis since Gazprom has always been and will continue to fulfill its contractual obligations on gas supplies, the Russian president moved to reiterate.
"Gazprom has always fulfilled, is fulfilling, and intends to fulfill all its obligations. There is no basis whatsoever for our partners to shift or try to shift their own mistakes onto Russia and Gazprom," he told journalists.
Putin further noted that Western countries closed energy routes and imposed sanctions on gas supplies despite the company's readiness and capability to pump as much gas as Europe needs, adding that European countries are "walking twice into the same water" regarding the trade of oil and petroleum products.
Putin also said Kiev closed the Sokhranivka entry point — one of the stations for transit of Russian gas to Europe via the territory of Ukraine — due to political reasons.
"Gazprom has always fulfilled, is fulfilling, and intends to fulfill all its obligations. There is no basis whatsoever for our partners to shift or try to shift their own mistakes onto Russia and Gazprom," he told journalists.
Putin further noted that Western countries closed energy routes and imposed sanctions on gas supplies despite the company's readiness and capability to pump as much gas as Europe needs, adding that European countries are "walking twice into the same water" regarding the trade of oil and petroleum products.
Putin also said Kiev closed the Sokhranivka entry point — one of the stations for transit of Russian gas to Europe via the territory of Ukraine — due to political reasons.
13 July 2022, 16:02 GMT
The Russian took the opportunity to also point out that the reverse of Russian gas from Germany ultimately turned out to be much cheaper for Poland than direct supplies.
"We saw that they [Poland] had turned Yamal-Europe in reverse mode and started procuring about 32 million [cubic meters of gas] a day from Germany. Where is German gas coming from? It is our gas, Russian gas," Putin noted.
"It [the reverse of gas] turned out to be cheaper for the Poles. They had been procuring it from us at a fairly expensive price, which is closer to the market price. But Germany procures from us under a long-term contract, which is 3-4 times cheaper than the market price."
The president added that while trying to buy gas at cheaper prices the Europeans only lost from sanctioning the Yamal-Europe pipeline since "the volume of gas in the market has decreased and the overall price in the market has risen."
Russian Energy Giant Must Receive Turbine for Nord Stream Pipeline
The speaking engagement later saw Putin emphasizing that Gazprom must receive the sanctioned Nord Steam 1 turbine, along with legal and technical documentation it requires.
"Now they say that soon we will receive this machinery from Canada. However, Gazprom has no official documents on the matter so far," he said. "We, of course, must receive them because it is our property, it is the property of Gazprom. Thus, Gazprom must receive not only the metal, not only the machinery but documents as well. Both legal documents and technical documents."
On July 10, Canadian Minister of Natural Resources Jonathan Wilkinson said that Ottawa had decided to return the Nord Stream 1 turbine to Germany to help Europe have access to "reliable and affordable energy."
Seven days later, Ukrainian President Volodymyr Zelensky said he had discussed the turbine issue with Canada’s Prime Minister Justin Trudeau, asserting that Ottawa’s decision was a violation of the sanctions regime and would never be accepted by the Ukrainian people.
On Monday, Russian newspaper Kommersant said that Canada sent the turbine by air on Sunday; however, by Tuesday, Trudeau publicly weighed in on the developments and acknowledged that the decision to return the Nord Stream 1 turbine to Germany was very difficult but a correct one.
Seven days later, Ukrainian President Volodymyr Zelensky said he had discussed the turbine issue with Canada’s Prime Minister Justin Trudeau, asserting that Ottawa’s decision was a violation of the sanctions regime and would never be accepted by the Ukrainian people.
On Monday, Russian newspaper Kommersant said that Canada sent the turbine by air on Sunday; however, by Tuesday, Trudeau publicly weighed in on the developments and acknowledged that the decision to return the Nord Stream 1 turbine to Germany was very difficult but a correct one.
