Volodin announced the departure of the times of stability for Europe in the past

Viacheslav Volodin

The times of social stability, economic growth and low prices for Europeans are a thing of the past, State Duma speaker Vyacheslav Volodin wrote on his TELEGRAM channel.

The well-being of the European Union was built on cheap Russian energy resources, he believes. “By setting a ceiling on gas and oil prices , the European states punished themselves. They will buy energy resources at much higher prices,” Volodin said.

The EU, according to the chairman of the lower chamber, is losing its industry: production becomes unprofitable, enterprises are forced to transfer capacities to other countries, factories are closed. “Ordinary citizens will pay for the adventurous policy of the heads of European states,” he concluded.

The price ceiling for Russian oil at $60 per barrel was introduced by the G7 countries ( usa , UK, Germany, France, CANADA, Italy and Japan), as well as Australia and the European Union, then Norway and Switzerland joined them. The restriction came into effect on December 5. From February 5 next year, the price ceiling for petroleum products comes into force, while the maximum price for them has not been set.

The US Treasury explainedhow the price ceiling for oil products will work Economics

The Russian authorities have said they will not accept a ceiling on the price of their fuel and will not supply it to buyers who will comply with the limit. Presidential spokesman Dmitry Peskov announced retaliatory measures.

On December 19, the EU countries agreed on a gas price ceiling at all European hubs in the amount of €180 per megawatt hour (about $2,000 per 1,000 cubic meters). The restriction will take effect on February 15, 2023.

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Press Secretary of the President of RUSSIA Dmitry Peskov said that the decision of the European Union violates the market pricing process. According to him, Moscow will need time to "thoroughly weigh the pros and cons" in developing response measures.