Moscow will completely stop its gas supplies to the European Union if the bloc imposes a price cap on Russia’s fossil fuel, Dmitry Medvedev, who served as the country’s president from 2008 to 2012 and is currently deputy chairman of the Russian Security Council, has warned, Lewrockwell writes.com.

On Friday, Medvedev posted a short message on his Telegram channel, commenting on a comment made earlier in the day by European Commission president Ursula von der Leyen.

“It will be a lot like with the oil. There will simply be no Russian gas in Europe,” the politician wrote.

His warning came shortly after von der Leyen said she firmly believed “that it is now time for a price cap for Russian pipeline gas to Europe.” The official noted that the ceiling “could be proposed at European level,” adding that “there is also a legal basis at European level to temporarily skim profits as an emergency measure at a time of crisis.”

Also on Friday, G7 foreign ministers issued a statement after an online meeting, signaling the countries’ “common political intention to finalize and apply a price cap for Russian oil. ”

According to the communiqué, the measure is “specifically designed to reduce Russia’s revenue and Russia’s ability to finance its war of aggression, while limiting the effect of Russia’s war on world energy prices.”

The Group of Seven also expressed hope that a “broad coalition” of countries would stick to the proposed price cap.

We are all Russians now

Moscow has previously made it clear that if such a restriction were imposed on its oil, it would simply stop selling its crude to those countries and turn to alternative buyers instead.

After the start of the Russian offensive against Ukraine in late February, gas prices in Europe have risen to record highs. This, in turn, has also caused headline inflation to rise significantly.

To make matters worse, Russia has continued to cut gas supplies to the EU in recent months to a fraction of pre-February levels. Moscow has cited technical problems caused by Western sanctions and scheduled maintenance as reasons for the reduction in supplies.

The bloc, for its part, accuses Russia of arming its energy exports.