“Where did the prices come from? Are we raising energy prices? Well, nonsense. Here there are people who are engaged in energy, oil all their lives practically. Are we raising prices? The market is lifting. And who is the main one in the market? Yes (USA). And as a result of their activities, prices are rising. And the same goes for gas,” Putin said at a plenary session at the SPIEF.

He stressed that long—term contracts give Russia the opportunity to invest confidently, and European countries – to confidently receive energy resources at market prices tied to a basket of oil and petroleum products.

we will not buy from you. Well, please go and buy. 1500 euros for 1000 cubic meterson the spot. And we sell them five times cheaper. In fact,  subsidize the European economy. And so it is in everything. And also in the States,” the Russian leader added.

Inflation is declining in Russia. This was announced by Russian Leader Vladimir Putin at the St. Petersburg International Economic Forum.

According to the head of state, we need to think about deflation.

Putin also drew attention to how much the Russian currency has strengthened.

“Over the past month, inflation has been zero and, in my opinion, 18%, that is, it tends to zero, and in this sense, of course, we should think about deflation. The ruble, look how it has strengthened!”

The anniversary XXV St. Petersburg International Economic Forum is taking place in St. Petersburg from June 15 to 18.