MOSCOW: Russian President Vladimir Putin said Wednesday that Moscow is ready to resume gas supplies to Europe via a link of the Germany-bound Nord Stream 2 pipeline under the Baltic Sea.
Speaking at a Moscow energy forum, Putin again charged that the US was likely behind the explosions that ripped through both links of the Nord Stream 1 pipeline and one of the two links of the Nord Stream 2 pipeline, causing a massive gas leak and taking them out of service.
The US has previously rejected similar allegations by Putin. Several European governments said the undersea explosions that ripped through both Nord Stream pipelines were likely caused by sabotage but stopped short of assigning blame.
The Russian leader has repeatedly taunted the West by raising the prospect of sending gas through Nord Stream 2, a political nonstarter for the German government and others.
Reaffirming a claim that he made last week, Putin said that the attack on the pipelines was launched by those who wanted to weaken Europe by halting the flow of cheap gas from Russia.
“The act of sabotage of the Nord Stream 1 and 2 is an act of international terrorism aimed at undermining energy security of the entire continent by blocking supplies of cheap energy,” he said, alleging that the US wants to force Europe to switch to importing more expensive liquefied natural gas.
“Those who want to rupture ties between Russia and the EU are behind the acts of sabotage on the Nord Stream,” he said.
While Russia is still pumping gas to Europe via Ukraine, the explosions on the Baltic pipelines have exacerbated acute energy shortages faced by Europe before the winter season.
The Nord Stream 2 pipeline has never brought natural gas to Europe because Germany prevented the flows from ever starting just before Russia launched military action in Ukraine on Feb. 24.
Before the explosions, Russia had cut off the parallel Nord Stream 1 pipeline at the center of an energy standoff with Europe. Russia has blamed technical problems for the stoppage, but European leaders call it an attempt to divide them over their support for Ukraine.
Plunging Russian gas supplies have caused prices to soar, driving inflation, pressuring governments to help ease the pain of sky-high energy bills for households and businesses and raising fears of rationing and recession.
Putin said that one of the two links of the Nord Stream 2 has remained pressurized and appears to be ready for service, adding that its capacity stands at 27 billion cubic meters a year. He noted that if checks prove that the pipeline is safe to operate, Russia stands ready to use it to pump gas to Europe.
The Russian leader also said that Russia could increase the capacity of its gas exports to Turkey and eventually turn into a hub for gas supplies to Europe.
Putin again scoffed at Western plans to cap prices for Russian energy exports, saying that “Russia won’t act against common sense and pay the other’s welfare.”
“We won’t supply energy to the countries that would cap the prices,” he said. “I would like to warn those, who instead of business partnership and market mechanisms try to use con tricks and blunt blackmail, that we won’t do anything to our own detriment.”
Putin says Russia could increase gas supplies to Europe
https://arab.news/8t3xy
Putin says Russia could increase gas supplies to Europe
- Several European governments said the undersea explosions that ripped through both Nord Stream pipelines were likely caused by sabotage
- The Russian leader also said that Russia could increase the capacity of its gas exports to Turkey
Closing Bell: Saudi main index closes in red at 10,847
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.
The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.
The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.
The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.
The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.
Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.
On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.
Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.
On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.
In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.










