When asked about stopping the Nord Stream-1 pipeline, Gentiloni told reporters, “We are not afraid of Putin’s decisions. We ask them to honor their contracts, but if they don’t, we are ready to react.
Gentiloni spoke after Russia canceled a Sept. 3 deadline for resuming gas supplies via its main route to Germany, adding to Europe’s difficulties in securing winter fuel.
Gentiloni pointed to the EU’s high levels of gas storage and plans to cut energy consumption as a sign that the continent is preparing for a harsh winter.
Speaking on the sidelines of the Ambrosetti forum in northern Italy, he said measures to help consumers with rising bills should be targeted and not include higher levels of debt.
He also said other countries could join the price ceiling on Russian oil agreed to by G7 (G7) finance ministers on Friday.
“We discussed how to build a broader coalition,” he said, referring to the G7 meeting.
“I’m sure countries like Australia and South Korea may be interested in joining this coalition,” he said, noting that lower oil prices would benefit countries even if they did not formally sign on.
Recall, “Nord Stream” was completely stopped on September 2. Gazprom cited oil leaks and the need for repairs as the reason for that.
European Commission spokesman Eric Mamera said that Gazprom had stopped the Nord Stream pipeline under false pretenses.