Novak proposes that U.S. set price cap on its LNG for Europe

MOSCOW. Oct 14 (Interfax) - Instead of discussing a price cap on Russian oil, the U.S. could think about a price cap on its liquefied natural gas supplied to Europe, Russian Deputy Prime Minister Alexander Novak said in an interview with Nailya Asker-Zade for the Vesti program on the Rossiya 1 TV channel.

"Russia will not supply those countries that will set a price ceiling, whether it is $60 or something else. This is interference in the market instruments. We are ready to work with those consumers who are ready to work on market conditions," Novak said.

Commenting on Janet Yellen's proposal on the price cap level, Novak said: "And as for the head of the US Treasury Department, who proposed some figure, we would probably advise our American partners in this regard to set some kind of price cap on the resources that they supply to Europe. The same liquefied natural gas is supplied to Europe at a price 4 times higher than the one for domestic consumption, for industrial consumers in the United States. And this only creates the conditions for Europe to enter into energy poverty. These statements are inconsistent with approaches to energy security."

Novak also commented on a statement by the head of the European Commission, Ursula von der Leyen, who suggested that consumers send increased gas and electric bills to Russia.

"I heard about this statement. Of course, it prompts only serious astonishment because the root cause of everything that happens in terms of energy shortages and price increases on the European market for both electricity, gas and petroleum products are unilateral decisions that European politicians made at the behest of their overseas partners, most likely. Therefore, I would advise Ursula Von der Leyen to send all these bills to the politicians who made the decision to switch to spot prices, to waive long-term contracts with our companies, to refuse Russian gas and energy resources. So send yourself the appropriate bills, store them on your desk, as they say, because you made those decisions. We have a saying: no matter how much you wipe the mirror, it won't make you prettier," the deputy prime minister said.

"Europe today is in an acute crisis of energy shortages. Europe needs additional supplies, and in the first place, of course, it is the European consumers, ordinary people today who are inconvenienced by rising prices. And as for politicians, of course, it's not in their interests to make any decisions aimed at admitting their mistakes," Novak said.