Putin spoke about the decline in the competitiveness of EU energy companies

The competitiveness of European energy companies began to fall in the context of the crisis, Russian President Vladimir Putin said this, speaking at a plenary session during the Eastern Economic Forum (WEF).

“The competitiveness of European enterprises is declining, because the EU authorities themselves are actually depriving them of affordable raw materials, energy resources and sales markets. And it is not surprising if, as a result, the niche of European business both on the continent and in the global market, as a whole and as a result, will be occupied by their American patrons. They, pursuing their own interests, never limit themselves in anything and are not embarrassed in achieving their goals, ”Putin said.

August 31 “Gazprom» stopped the only gas pumping unit operating at the Portovaya compressor station of the Nord Stream gas pipeline for scheduled preventive maintenance. It was planned to resume pumping on September 2 to a volume of 33 million cubic meters. m per day, however, Gazprom completely stopped the operation of the gas pipeline due to an oil leak found in the turbine during routine maintenance.

Despite the suspension of Russian gas supplies, European gas storage facilities are filling up ahead of schedule. In particular, as of September 4, German UGSFs were 85% full, a target that should have been reached only in November.

To avoid a complete halt in gas supplies from Russia to Europe, the European Commission called on the EU countries to impose a price limit on Russian energy resources. According to the head of the EC, Ursula von der Leyen, this measure will help contain Russia’s income from the oil and gas sector, while minimizing sharp jumps in stock prices for gas.

A similar measure last week was considered by the finance ministers of the G7 countries, they proposed to impose a price limit on oil and oil products from Russia. According to the Financial Times, the oil price cap will come into effect on December 5, when the EU embargo on Russian oil supplies comes into force, and on oil products on February 5, 2023. If the price ceiling is nevertheless established, Russia will stop supplying energy resources to those countries that have approved this measure, said the press secretary of the President of Russia Dmitry Peskov. He noted that oil and oil products will be supplied in other directions – to countries that work on market conditions.

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