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Russia not interested in endless growth of energy prices — Putin

 Russia is not interested in the endless growth of energy prices, including gas, but this takes place beyond Moscow’s control, President Vladimir Putin said at the meeting with Cabinet members on Wednesday.

“If there is a decline in consumption – and such situation eventually leads to reduced consumption, it will also affect our producing companies, including Gazprom,” Putin said. “That is why we are not interested in the endless increase of prices for energy resources, including gas. Nevertheless, developments are taking place, beyond our control,” Putin said.

“These are largely artificial things made by our colleagues, including in Europe, but certain consequences can also be for us,” Putin noted.

“As soon as prices for mineral fertilizers produced using gas start growing – and they are rising already, since plants are shutting down – our producers will be tempted to sell everything at high prices,” the head of state said. “We know this from recent developments in certain branches. Therefore, it will not be merely needed to analyze developments to occur in the near future but also present a package of measures that will support the interests of our agricultural producers and limit the food price hike,” Putin said.

Such a package of measures should mitigate “adverse consequences that may occur on global markets and affect the Russian economy in one way or another,” he added.

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