The Russian President Vladimir PutinOn Thursday (14), she said that Moscow will work to redirect its energy exports to the East, while Europe is trying to reduce its dependence, and added that European countries will not be able to abandon Russian gas immediately.
Russia supplies about 40% of the European Union’s natural gas, and Western sanctions over what Moscow calls its “special military operation” in Ukraine have hurt energy exports, complicating financing and logistics for pre-existing deals.
As the European bloc debates whether to impose sanctions on Russian oil and gas, countries are seeking supplies from other countries. For its part, the Kremlin has forged closer ties with China, the world’s largest energy consumer, as well as other Asian countries.
“The so-called partners of hostile states admit to themselves that they will not be able to do without Russian energy resources, including natural gas, for example,” Putin said at a televised government meeting.
There is no logical alternative to Russian gas in Europe today.
Putin also said that Europe, speaking of blackouts in Russia, is raising prices and destabilizing the market.
The leader said Russia, which contributes about a tenth of global oil production and about a fifth of gas production, will need new infrastructure to boost energy supplies to Asia.
Copyright © Thomson Reuters.
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