Putin poised to shut off all energy supplies to Europe after VDL threatens Russia

“Will there be any political decisions that contradict the contracts? Yes, we just won’t fulfil them. We will not supply anything at all if it contradicts our interests,” Putin said.

“We will not supply gas, oil, coal, heating oil – we will not supply anything,” Putin said.

Europe usually imports about 40 percent of its gas and 30 percent of its oil from Russia.

The Group of Seven (G7) wealthy democracies announced plans to impose a price cap on Russian oil exports last week in a move that could also restrict Russia’s ability to secure tankers and insurance from countries beyond the G7.

However, there were signs of division among EU members over the price cap plan.

A Czech minister said it should be taken off the agenda for Friday’s meeting. The Czechs are helping to guide discussions as holders of the EU’s rotating presidency.

“It is not a constructive proposal, according to me. It is more another way to sanction Russia than an actual solution to the energy crisis in Europe,” Czech news agency CTK quoted Industry Minister Jozef Sikela as saying.

The energy crisis facing Europe has grown more acute after Russia’s Gazprom fully suspended gas supplied through the Nord Stream 1 pipeline to Germany after it said it found an engine oil leak during maintenance work last week.

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