Qatar’s foreign minister said some countries were considering a “parallel system” of pricing oil, as the economic impacts of the Ukraine crisis hit home.
"On the one hand, you are sanctioning right and left. On the other hand, you want countries to buy your Treasurys and finance your debt. That's not a sustainable scenario," Luft said.Qatar's Al-Thani also said the country was"stepping up" and holding talks with European countries about boosting gas supplies.
"We are stepping up and helping some European partners who are starting to suffer from some gas shortages … with the limited amount that we have," he said, stressing that the majority of its gas contracts are long-term and so can't be changed. It comes as European countries seek to diversify their energy supply away from Russia – particularly gas. The EU imported 45% of its gas from Russia last year, according to the International Energy Agency.to Europe this year, with that amount set to increase going forward."I think the best way forward is diversifying the source of supply," he added."This will be the only way forward.
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