Invasion of Ukraine: Vladimir Putin said that the “unfriendly countries” of Europe will not be able to survive without Russian gas

Vladimir Putin chairs a meeting on the country’s oil and gas industry with representatives of Russian energy companies and officials via video link at a residence outside Moscow. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS

The president of Russia, Vladimir Putin, affirmed today that Europe does not have the possibility of substituting Russian gas right now, and accused the European Union (EU) of destabilizing the market and causing price increases with its debate on an embargo on Russian oil and gas.

”The so-called partners from unfriendly countries admit that they cannot do without energy resources, including natural gas. There is simply no reasonable replacement for Europe now.”said at a meeting on the situation in the Russian hydrocarbon sector in which Deputy Prime Minister Alexander Novak participated.

The Russian president admitted that substitution “is possible, but it is still missing” and “everyone knows that at the moment there are simply no free volumes” available that Europe could acquire as an alternative.

”And supplies from other countries, first of all from the US, which can be sent to Europe, will be several times more expensive for consumers, and will be reflected in people’s standard of living and in the competitiveness of the European economy” , he predicted.

“Despite things that are obvious to everyone, European countries constantly talk about refusing Russian supplies, which further destabilizes the market and they themselves, with their own hands, inflate prices, mainly for their citizens,” he said in reference to rising inflation rates in Europe.

  REUTERS/Maxim Shemetov
REUTERS/Maxim Shemetov

In Putin’s view, attempts by Western countries to drive Russian suppliers out of the market, to replace their energy resources with alternative supplies, “will inevitably affect the entire world economy.”

He said the consequences could be “very painful, especially for those who promote this policy.”

“Russian energy companies are responsible participants in the world market, they were established with more than a decade of work and strict compliance with their obligations,” he stressed.

According to the head of the Kremlin, who has demanded that unfriendly countries, including all those in the EU, pay for Russian gas in rubles, “interruptions are observed in the disbursement of export supplies of Russian energy resources.”

“Banks from those same unfriendly countries delay payment transfers,” he said, without giving a reason.

So far, the EU has not found an alternative to replace gas from Russia.  EFE/EPA/MAXIM SHIPENKOV
So far, the EU has not found an alternative to replace gas from Russia. EFE/EPA/MAXIM SHIPENKOV

In Putin’s view, the West is trying to “cover up its own miscalculations with its green transition agenda and blame everything on Russia.”

“Now there is a wonderful reason to cover up not only your own miscalculations and incompetence in the energy sector, but also in many other areas and blame everything on Russia,” he said.

The Russian president assured that the EU is now even willing to “abandon its green agenda and return to betting on energies with a high carbon footprint”.

In these circumstances, Russia must “diversify exports,” he said.

”We are assuming that in the near future supplies of energy resources in the western direction will decrease. That is why it is important to strengthen the trend of recent years: step by step redirect our exports to the markets of the South and East, which are growing rapidly”, he stated.

The Russian president assured that the EU is now even willing to
The Russian president assured that the EU is now even willing to “abandon its green agenda and return to betting on energies with a high carbon footprint”. REUTERS/Sputnik/Kremlin/Mikhail Klimentyev

For this, it is necessary to determine the key infrastructure facilities soon and begin their construction, Putin insisted.

It also considered it necessary to guarantee the stable supply of energy resources in the internal market.

”In conditions in which external markets are contracting, it is important to increase supplies to Russian consumers. And to stimulate domestic demand you need to get prices down wherever possible,” he said.

(with information from EFE)

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