Gentiloni says EU expects Russia to honor energy contracts

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CERNOBBIO — The European Union expects Russia to honor the energy contracts it has entered into, but it is ready for the challenge if it does not, Economy Commissioner Paolo Gentiloni said on Saturday .

Asked about the shutdown of the Nord Stream 1 gas pipeline, Gentiloni told reporters: “We expect Russia to honor the contracts they have.

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“But even if the militarization of energy continues or increases, the EU is ready to react,” he said at the Ambrosetti Forum business conference in northern Italy, noting the high levels of gas storage and winter energy conservation plans. (Reporting by Valentina Za and Elvira Pollina Writing by Keith Weir; Editing by Ros Russell)