Vladimir Putin says Russia can resume gas supplies to Europe via Nord Stream 2

Addressing the Russian Energy Week forum in Moscow on Wednesday, Kremlin leader Valdimir Putin announced that Moscow is ready to resume gas supplies via one link of the Nord Stream 2 pipeline. The Russian President informed that parts of the Nord Stream 2 pipeline are intact and it could be used to supply gas to Europe this winter. 

This statement comes as Europe is staring at a looming energy crisis this winter. Signalling that Russia is willing to provide Europe with the energy they need, Putin said that the ball is in Europe's court and it is for Europe to decide if it wants Russian energy. The Russian President also added that the part of the Nord Stream 1 and 2 pipelines that were blown up, can be repaired, again pointing out that it was for Europe to decide. 

"Its capacity is 27.5 bln cubic meters per year, about 8% of total gas imports to Europe. Russia is ready for a start of such supplies. The ball is on the European Union’s side, as the saying is. We do not limit anyone, including readiness to supply extra volumes during the winter season," the President said as per TASS.

He further claimed that Russia is prevented from taking part in the probe of gas pipeline incidents. "I regret saying we are not allowed to survey [the remaining] string but pressure is maintained [in it]," he noted. "Pressure is kept, meaning that it is in the operable condition, to all appearance," the Kremlin leader said. 

Who does Putin hold responsible for attacks on Nord Stream pipelines?

An international investigation is being carried out to examine the cause of the explosions that damaged the Nord Stream 1 and 2 pipelines in the Baltic Sea. In a speech at the Kremlin, on the eve of Russia officially annexing four Ukrainian provinces, Putin had stated that the Anglo-Saxons were responsible for the attack on Nord Stream pipelines. Western analysts have claimed that Russia is responsible for attacks on the Nord Stream pipelines, according to reports by the Financial Times. 

On Wednesday, whilst addressing the Russian Energy Week forum, Putin again reinstated his belief that some Western nations were responsible for the attack on Nord Stream pipelines. He labelled the attack an act of international 'terrorism', adding that the attacks have set a dangerous precedent. 

Putin on G7's proposed price caps

The Russian President also addressed the G7 price cap proposal. The G7 plans to implement a price cap on Russian oil but this proposal faces a challenge because any price cap on Russian oil will be effective only when India and China support the price cap. Otherwise, as per reports from Politico Europe, the price cap will just allow India and China to buy more cheaper Russian oil. Putin informed the attendees of Russian Energy Week forum that the G7 price cap will negatively impact investments in other sectors around the world. According to Putin, the planned price cap on Russian oil will pose a "threat to billions of people."