Moscow / Brussels / Beijing: President Vladimir Putin said on Wednesday Russia did not use gas as a weapon and was ready to help alleviate the European energy crisis as the EU was called an emergency summit on October 26 to overcome skyrocketing prices.
Energy demand has soared when the economy has rebounded from a pandemic, pushing oil, gas and coal prices, triggers inflationary pressure and damages efforts to cut the use of fossil fuels that pollute in the war against global warming.
China has increased coal output and imports because domestic coal prices have reached the recording level and power station has struggled to keep lights at home and factory.
Energy crunch has strengthened calls Wednesday by the International Energy Agency (IEA) for three-fold investment in renewable energy to a stable market and combat climate change.
European gas squeeze has the spotlight in Russia, which accounts for a third of the inventory of the region, encourage European politicians to blame Moscow because it is not pumping enough.
Putin said at the energy conference in Moscow that Russia fulfilled its contractual obligations to supply clients and are ready to increase supply if asked.
He rejected the allegations that Russia used energy as a weapon: “This is only a political motivated chat, which does not have any basis.” Russia and Europe have been involved in disputes through new pipes, Nord Stream 2, to supply Russian gas to Germany.
Pipes are built but awaiting approval to start pumping, in the midst of conflicts from the US and several European countries that are afraid to make Europe more dependent on Russia.
Some European politicians said Moscow used the fuel crisis as a leverage, the allegations had been repeatedly rejected.
The European Commission describes steps on Wednesday that the EU will take to fight the energy crisis, including exploring shared gas purchases.