Europe Lost Russia as Energy Supplier, Russian Envoy Says

VIENNA (Sputnik) - Russia's Permanent Representative to International Organizations in Vienna Mikhail Ulyanov said Europe has lost Russia as its largest energy supplier.

"Isn’t it vice versa: Europe has lost Russia as its largest energy supplier to get the opportunity to buy the US LNG at a much higher price? Great achievement!" Ulyanov wrote on Twitter.

It was his response to a user post that quoted the head of the International Energy Agency (IEA) saying Russia had lost Europe as its largest energy client "forever."

IEA chief Fatih Birol said in October that Russia had lost the European oil and gas market forever and would face a drop in production. The West stepped up sanctions pressure on Russia over Ukraine, which led to higher prices for electricity, fuel and food in Europe and the United States.

Russian President Vladimir Putin said cheap and reliable Russian energy resources were Europe's competitive advantage, and even a partial rejection of them already had a negative impact on its economy and residents. The US, pushing through the EU's complete rejection of Russian energy carriers and other resources, is leading to the de-industrialization of Europe, he said.

Putin, commenting on the West's idea to limit prices for Russian energy resources, said Russia would not supply anything abroad if this was contrary to its own interests.

Deputy Prime Minister Alexander Novak said Russia would not supply oil to countries that set any price cap. He added that such restrictions were interference in market tools, and Moscow was prepared to work with consumers ready for market conditions.