Ukraine Backs G7 Decision To Impose A Price Cap On Russian Oil

Ukrainian President Volodymyr Zelensky supports the G7 decision to impose a price cap on Russian oil and calls for the same move on gas prices, Ukraine Daily reported.

Photo Insert: Russia continues to use energy as a weapon against European consumers.

Zelensky said that such a step would limit the flow of income to Moscow and “restore justice for all Europeans Russia is trying to blackmail with artificially inflated prices.”

The White House has also accused Russia of weaponizing energy.

A US National Security Council spokesperson told Reuters that "it is unfortunately not surprising that Russia continues to use energy as a weapon against European consumers."

The spokesperson added that while the US and Europe have been working together to ensure sufficient gas supplies are available for the heating season, "the efforts alone will not suffice." On Sept. 2, Russia’s Gazprom halted gas supplies via Nord Stream 1 pipeline indefinitely, citing a gas leak.

European Commission spokesman Eric Mamer said Russian gas giant Gazprom’s cutting off energy supplies to Western Europe via Nord Stream 1 due to technical problems was made under “fallacious pretenses.”

He said the decision is “proof of Russia’s cynicism, as it prefers to flare gas instead of honoring contracts.” Gazprom said the decision to stop the transit of gas to Western Europe is due to equipment issues, citing a gas leak that “does not allow the gas turbine engine to be operated safely.”

The pipeline will reportedly not restart until the necessary repairs are complete.

The Norwegian petroleum company Equinor has exited Russia. The state-owned energy firm said on Sept. 2 that it had completely withdrawn from the Kharyaga field located in the northern part of the country.

"Following the exit from Kharyaga, Equinor has no remaining assets or projects in Russia," the company reported.

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