Following the start of the war in Ukraine, European countries imposed extensive sanctions against Russia's energy sector under the pretext of supporting this country. Currently, these sanctions have entangled Europe to deal with an unprecedented energy crisis.
Russia won't immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter.
On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned because it had detected an oil leak at its Portovaya compressor station. The pipeline has been shut since Wednesday for maintenance.
The move came hours after the G7 countries said they were pushing ahead with a plan to try to impose a price cap on Russia’s oil exports as part of an attempt to lower revenues flowing to Moscow that can be used to fund its invasion of Ukraine.
Meanwhile, Vyacheslav Volodin, the head of the Russian Parliament (Duma) today (Friday), stressed that Western sanctions against Russia have led to an energy crisis for Western and European governments, adding: "European energy security is impossible without Russia."
Meanwhile, Dmitry Peskov, the spokesperson of the Russian presidency, in response to the European Union's efforts to set a price ceiling for Russian oil, announced that the G7 plans to limit the price of Russian oil will significantly destabilize the global oil market. 219
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Russia responds to states imposing restrictions on its oil price
