Russia's Shmatko Urges For Not Politicizing Oil

Doha, December 07 (QNA) -The Russian Energy Minister Sergei Shmatko has deplored monopoly that might threaten the world's oil supplies, stressing that his country is for competition among suppliers albeit coupled with preserving the rights of consumers. In remarks to reporters on the sidelines of the 20th World Congress currently held in Doha, Shmatko said he was concerned over some European energy legislations, expressing the view that protection of the rights of consumers could be achieved on the basis of long-term ties that secure supplies and market stability. He said that his country had a long term experience of more than 40 years of supplying gas and oil to Europe and was in no need of the help of any other party in that market. However, he said cooperation with American companies might solve issued related to prices. Cooperation between US, Russian and European companies would contribute to maintaining stable oil prices, he said. Increased shale gas resources in the US have forced a change in the pattern of gas export to Europe and was a surprise to Russia, he said. He warned energy producers that energy resources must not be politicized. He reiterated that the oil sector must be kept out of politics , emphasizing that his country will be neutral should an oil embargo is imposed on Iran by the west as a punishment for continuing its nuclear program. (QNA)