Vladimir Putin: Russia is not using energy as a weapon

Speaking at an energy convention in Moscow on Wednesday, Putin referred to as the accusations "politically motivated" and with out proof. His feedback got here as EU officers mentioned decrease than anticipated provides of Russian fuel had been partly accountable for Europe's energy disaster and pledged to speed up the bloc's efforts to wean itself off fossil fuels.

State-owned Gazprom warned of a repeat of the 2009 disaster in 2014 after Ukraine didn't pay its energy payments and Russia's relations with the West plummeted over its annexation of Crimea. That risk by no means materialized.

Putin struck a extra conciliatory tone on Wednesday, saying that Russia was "prepared to discuss any additional steps" with European governments to deal with the worsening energy disaster.

"Russia flawlessly fulfills its contractual obligations to our partners, including our partners in Europe," he mentioned. "Moreover, we always strive to meet our partners halfway."

Wholesale electrical energy costs in Europe have elevated by 200% in comparison with the 2019 common, in response to the European Commission. The surge is the results of hovering pure fuel prices, pushed by excessive demand in Asia and lower-than anticipated deliveries from Russia.

Most EU international locations depend on gas-fired energy stations to fulfill electrical energy demand, and about 40% of that fuel comes from Russia, in response to Eurostat.

Last month, the International Energy Agency referred to as on Russia to produce extra pure fuel to Europe to assist alleviate the disaster, saying that though Russia is assembly contractual obligations to European clients, exports are down from their 2019 stage.

Kremlin spokesman Dmitry Peskov advised journalists on Wednesday that Russia has elevated fuel provides to Europe to the utmost doable stage below current contracts and can't exceed these thresholds.

Russian officers have beforehand mentioned that dashing up the approval of the controversial Nord Stream 2 pipeline linking Russia with Germany might assist convey down pure fuel costs. The pipeline was accomplished final month regardless of years of opposition from international locations together with the United States, which warned that it might increase Moscow's affect in Europe.

The Biden administration introduced in July that it had reached a take care of Berlin that may enable the pipeline to go forward in alternate for German help to Ukraine. It is now awaiting clearance from German authorities.

The European Commission on Wednesday unveiled a series of measures geared toward tackling the energy disaster, together with dashing up the transition to renewable types of energy.

EU member states have put in place a series of emergency measures to assist shoppers and companies deal with the decade-high electrical energy prices, together with direct monetary help to households, state help for corporations and focused tax reductions.

— Amy Cassidy, Chris Liakos, Walé Azeez and Katharina Krebs contributed reporting.