“We made it very clear that we do not support the introduction of a cap gas price, because we believe that such a step carries the risk of reducing the volume of gas supplied to the European market,” RIA Novosti quotes him.

According to the minister, the decline in supplies will cause further growth in fuel prices.

He added that at the recent meeting of EU energy ministers, no specific proposals on the marginal cost were put forward.

Earlier, the US Treasury proposed to set the maximum price for Russian oil in the region of $60.

Russian President Vladimir Putin has said that Russia will not act to its own detriment if Western countries impose a price ceiling on Russian energy resources.

The IMF noted uncertainty about the effectiveness of the oil price ceiling from Russia.