The GECF countries are concerned about the use of unilateral sanctions in violation of international law

The GECF countries are concerned about the use of unilateral sanctions in violation of international law


TEHRAN, November 21. The state of the Forum of gas exporting countries (GECF) expressed concern over the use of unilateral sanctions in violation of international law. On Saturday told journalists energy Minister Alexander Novak.

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“Agreed paragraphs of the resolution that the parties Express the concern that unilateral sanctions are applied, are contrary to international law”, – he said, talking about the Ministerial meeting with representatives of member States of the GECF.

Novak also noted that the States of the GECF confirm the importance of long-term contracts and binding gas prices to oil prices.

Role of gas in the global energy mix will grow

Novak also noted that the participating States of the forum of gas exporting countries believe that the role of gas in the global energy mix will grow.

“Reaffirmed that the role of gas as the most eco-friendly product, will be increased in the energy balance. Therefore, in order to ensure sustainability, it is necessary to create conditions for attracting investment in the sector,” he said.

Investment in the gas industry

Novak also noted that investment in the gas industry are the guarantee of its sustainable development.

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“I consider a great achievement the fact that member countries of the GECF Express a common policy and present a United front in the gas market. The role and importance of energy sources in the short term will only increase, – said the Russian Minister. – Therefore, in order to ensure sustainable development of gas industry and uninterrupted supply of raw materials energy consumer, it is necessary to increase investment in this sector. During this conference the parties confirmed the need for this important tool, which are long-term contracts and investments”.

“It is very important that today there was a General concern of the parties the practice of the imposition of unilateral sanctions, which contravene international law and legislation. This creates instability in the gas market, additional risks and leads to an imbalance, – said Alexander Novak. At that time, as all countries are interested in predicting not only their interests but also their sovereign rights”.