“What the officials of the G7 states call the “ceiling” of prices will be the “floor,” Volodin wrote on Telegram.

The Chairman of the State Duma also noted that the cost of energy resources will be determined by "the market and contractual obligations."

He added that the Western model of the global economy, which is based on colonial principles, "has outlived itself." 

Earlier, Volodin said that the energy security of Europe is impossible without Russia.