MOSCOW, October 16. /TASS/. Russia is ready to increase energy supplies to Europe, including under existing long-term contracts, Russian Deputy Prime Minister Alexander Novak told a plenary session of Russian Energy Week.

"We are ready to provide larger supply volumes (to Europe - TASS)," Novak said. "It was not us who rejected affordable and stable energy supplies from Russia. Europe made that decision for political reasons. We remain ready to continue fulfilling our contracts."

The deputy prime minister noted that contracts with Europe are long-term, pointing out that gas supply agreements remain in effect until 2035-2040.

"A unilateral refusal to take supplies under these contracts is a decision not based on the existing legal and regulatory framework," Novak emphasized. "It is a politically motivated decision that does not serve the interests of their own consumers."