Top Russian official calls EU gas price cap ‘non-market measure’

MOSCOW 

Former Russian President Dmitry Medvedev called the EU gas price cap a “voluntarist, non-market measure.”

In a statement on Telegram, Medvedev said like in the case of the oil price cap, the decision on the gas price cap “was dictated by zoological hatred to Russia, proceeding from the maniac thesis that ‘Russians are guilty of everything.’”

Medvedev, who is deputy head of the country’s Security Council, said reservations will prevent “serious” implementation of the decision.

“It (the decision) is taken based on the EU’s incapability to influence the situation. Just on the principle of ‘let’s do something’ at all. That is why the limit is set at a level that a couple of years ago would have seemed surprising to absolutely all participants in the gas market, including spot traders.

“After all, none of the bidders on the TTF futures exchange could imagine the price of 180 euros per kWh (approx. $2,000 per 1000 cubic meters) even in the happiest or worst dream. This means that gas prices will remain at a very high level for European consumers,” he wrote.

He said due to high energy prices, Russophobia, “and with it the impoverishment of ordinary Europeans is increasing.”

He ended the post with: “Merry Christmas!” and a Santa Claus emoji.

• Dmitry Medvedev
• Gas price cap
• Russia