Russia to Stop Delivering Oil, Gas to Countries with Price Caps

President Vladimir Putin said today that Russia will stop delivering oil and gas supplies to countries that introduce price caps.

Putin told the Eastern Economic Forum in the Pacific Port city of Vladivostok that Russia will not supply anything at all if it is contrary to the country’s interests.

G7 Industrialised powers on Friday vowed to move urgently towards implementing a price cap on Russian oil imports, in a bid to cut off a major source of funding for Moscow’s military action in Ukraine.

Putin said Russia would respect its contractual obligations and hoped other countries would do the same.

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