Russia's Putin: Russia is not using energy as a weapon

Russian President Vladimir Putin reiterated on Wednesday that Russia is not using energy as a weapon and said that Russi supplied gas to Europe even during the Cold War, as reported by Reuters.

Additional takeaways

"European gas production will continue to decline."

"Russian gas production will only increase."

"Gazprom has increased gas supplies by around 10%."

"We are meeting requirements on gas supplies from Europe."

"We are increasing gas supplies to Europe, while other partners, including USA, cutting supplies."

"We are ready to increase gas supplies in line with what our partners request."

"Russia will increase gas transit via Ukraine this year."

"Europeans have not pumped sufficient volumes of gas into their storages."

Market reaction

These comments don't seem to be having a noticeable impact on market sentiment. As of writing, the UK's FTSE 100 Index was posting small daily losses at 7,123.