The EU is guilty for its vitality disaster, Russia’s Deputy Prime Minister Alexander Novak mentioned Saturday.
A world fuel provide crunch has despatched shopper payments hovering throughout Europe, fueling inflation and accusations, most not too long ago by Worldwide Power Company boss Fatih Birol, that Moscow is exacerbating the issue by withholding imports.
Novak mentioned Russia had fulfilled its long-term contracts with the EU. And, he added, the disaster was on account of “the short-sighted coverage of the European Union and the European Fee, which for a few years has intentionally moved away from long-term contracts, shifted its vitality sector towards lowering dependence on by switching from long-term contracts to identify ones.”
About 40 p.c of Europe’s pure fuel imports come from Russia, however this yr the move into the bloc is down by round 1 / 4.
Novak mentioned Russia had “big assets” and will improve its provide to Europe. However that might require steady contracts to encourage funding in manufacturing. “We delivered way more to Germany, to Turkey, to different nations that selected their volumes,” he mentioned.
“Incorrect planning, short-term vitality coverage is a headache for European politicians, which they’re attempting to cross on to others,” he added. Novak was talking to Russian public tv and the feedback had been reported by TASS.