Russia sells gas to Armenia at a significantly lower price than current fuel prices in Europe, Russian President Vladimir Putin said during a meeting with Armenian Prime Minister Nikol Pashinyan.

“Regarding energy, I hope the situation here will improve as well. Today, as you know, energy and gas prices in Europe are soaring above $600 per 1,000 cubic meters. Russia sells gas to Armenia for $177.5 per 1,000 cubic meters. The difference is huge,” Putin said.

He noted that he and Pashinyan often debate over energy pricing and supply.

“I know you insist on some other methods of determining energy prices. But this is still a different scale: $600 versus $177.5,” Putin added.