The US is trying to switch Europe to expensive American LNG, undermining the competitiveness of European companies, said Russian President Vladimir Putin, RIA Novosti reported.

According to him, global markets are falling, while the value of shares of companies in the US military-industrial complex is only growing. "Capital is flowing into the US, depriving other regions of the world of development resources. Attempts to switch to expensive US LNG, by all means, are of the same series. As a result, Europeans are not only being forced to splurge and, in fact, with their own hands undermine the competitiveness of European companies, remove them from the global market," he said.

Putin noted that Russia values its business reputation. "We have complied and will continue to comply with our obligations under all contracts, including gas contracts. We will continue to supply gas in the established volumes, at the prices specified in the existing long-term contracts."

In his view, the development of a situation in which European countries can freeze euros and dollars on gas contracts is quite expected. "In the case of further gas supplies and their payment in the traditional scheme, new financial receipts in euros or dollars may also be blocked. Such a development of the situation is quite expected, especially since some politicians in the West are talking about it, and they are talking about it publicly," he said.