LIVE UPDATES: Eastern Economic Forum Starts in Vladivostok, Russia

On Tuesday, at the Eastern Economic Forum, Russian Energy Minister Nikolai Shulginov announced to reporters Russia will supply energy resources to friendly states and redirect supplies to the East if the countries of the Group of Seven (G7) set a price ceiling for oil and gas from the Russian Federation.

"Any actions, including setting a price ceiling [for oil and gas], create conditions for a shortage at home, and also increase price volatility. Russia, as a reliable partner, will provide partners in friendly countries with energy resources and saturate the domestic market, of course," the minister said.

"This suggests that, despite a significantly changed structure of the world, nevertheless, we are interesting to each other. We have a chance for understanding," he said.