West won't be able to hold Russia, Iran responsible for energy needs

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The West will not be able to hold Russia and Iran accountable for the issues related to the West's need for energy resources, Iranian deputy energy minister Ahmad Asadzadeh told Sputnik on Wednesday.  

"Today there is a meeting of OPEC+, where a decision will be made. I want to say that the countries of Europe and the US will not be able to shift the responsibility to satisfy their needs in the oil sector and the energy crisis on us," the minister said.  

Earlier in the day, OPEC+ countries agreed on steep oil cuts and reduced production by 2 million barrels per day.  

Read: OPEC+ to cut oil production by 100,000 BPD in October

Following the meeting, Russian Deputy Prime Minister Alexander Novak commented on the possible price cap of the EU and told reporters that Russia will continue supplying oil only to consumers who will ensure market-based pricing mechanisms.  

"Such precedents will greatly harm the energy market, it will only lead to shortages, to higher prices," he said, adding, "We believe that it is not advisable for us to provide supplies with the introduction of such an instrument to those consumers who will use price caps. We will continue to supply only to those who provide market-based mechanisms of pricing."  

Saudi Energy Minister Prince Abdul Aziz Bin Salman stated that OPEC+ is prepared to adapt to the situation even if it worsens.

"It goes both ways, it does not go one way... We shall act and react to what is happening to the world global economy in the most responsible way," the minister said during a press conference.