Putin says considering proactively cutting off gas to Europe, Russia remains a reliable energy supplier for all partners.

According to CCTV International, Russian President Vladimir Putin stated in an interview with Russian media on March 4 local time that the current prices of oil and natural gas are indeed rising. This is due to restrictions on Russia’s energy resources and the combined effects of U.S. and Israeli aggression against Iran. The European Union is also planning to fully ban imports of pipeline natural gas and liquefied natural gas from Russia.

Putin said, “Anyway, the EU will eventually ban Russian gas imports. It’s better for Russia to proactively cut off gas supplies to Europe, stop supplying the European market, and shift to emerging markets.”

According to Xinhua News Agency, on January 26 this year, the 27 EU member states officially approved regulations to gradually ban imports of pipeline natural gas and liquefied natural gas from Russia. Under this regulation, the EU will fully prohibit imports of pipeline natural gas and liquefied natural gas from Russia. The ban will be implemented six weeks after the regulation takes effect, with existing contracts having transitional periods. The announcement states that the comprehensive ban on liquefied natural gas imports from Russia will take effect in early 2027, and the ban on pipeline natural gas imports will take effect in fall 2027.

According to CCTV News, Putin stated that Russia has always been and still is a reliable energy supplier for all partners, including European partners. Russia will continue to cooperate with those who are reliable partners, such as Slovakia and Hungary in Eastern Europe. Russia supplies these countries with oil, natural gas, and other energy resources, and plans to continue doing so in the future, provided that their leaderships continue to pursue current policies and remain reliable partners.

In contrast to Putin’s latest remarks, earlier reports from CCTV News indicated that Norwegian Energy Minister Terje Søviknes said in a meeting in Oslo, Norway, on March 3 that the EU has made it clear that it hopes to reduce dependence on Russian oil and natural gas. However, recent events over the past three or four days have made the situation more difficult. Given the current geopolitical situation, he believes relevant discussions will restart.

Risk Warning and Disclaimer

The market carries risks; investments should be cautious. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Invest accordingly at your own risk.