Russia: Increase in gas supply to Europe depends on contracts

Commenting on Russian President Vladimir Putin's remarks, a Kremlin spokesperson said on Thursday that the increase in the gas supply to Europe depends on contracts.

The spokesperson further noted that Russia sees potential to raise the gas supplies but added that the increase to EU does not depend on the Nord Stream 2 approvals.

Meanwhile, Gazprom's Deputy Head Burmistrova said the current European spot gas prices create a risk of destabilisation of the European economy, per Reuters.

Market reaction

These remarks don't seem to be having a negative impact on risk sentiment. As of writing, the UK's FTSE 100 Index was up 0.95% on the day and the Euro Stoxx 50 was rising 1.35%.