Putin says Europe has no energy alternatives to Russian gas, and weaning off will have severe consequences for the economy
- Europe has no viable alternative to Russian
energy, warned President Putin.
- "A reasonable replacement for Europe simply does not exist," Putin said Thursday in a televised statement.
Russian President Vladimir Putin said Europe doesn't have an alternative to Russian energy, and severe economic consequences will follow if the continent tries to replace its supply of
"A reasonable replacement for Europe simply does not exist," Putin said Thursday during a televised statement ahead of a meeting on Russian energy. "There are simply no spare volumes in the global market, and deliveries from other countries, primarily the US, which may be sent to Europe, will cost the consumers many times more."
He also noted that there were currently "issues with payments for Russian export energy supplies."
The Thursday statements follow his call earlier for "unfriendly countries" to purchase oil and gas using rubles, or risk being shut off from Russian energy.
But the European Commission warned this week that
Still, given the reliance on Russian energy, European governments are weighing how to respond to Putin's demand for ruble payments.
Russia, for its part, has continued to ship energy resources and oil exports have rebounded. But the sanctioned cargoes have had to travel much further distances in order to find new
Russia is seeking new customers for its resources, Putin told officials earlier this week, as well as exploring ways to increase domestic markets.
Meanwhile, earlier this week
"The fact is that traders are trading and they are helping Russia to receive this blood money," President Volodymyr Zelenskyy's adviser told the Financial Times. "They are in this cycle of financing war crimes and genoicide against Ukrainian citizens."
- Kia recalls 4,358 units of Seltos to replace electronic oil pump controller
- Bank deposits losing attractiveness as govt savings schemes see strong growth
- BSE, NSE issues penalty notices to HAL for not having sufficient independent directors
- India does not rush into trade agreements if it is not fair, balanced, equitable: Goyal
- Key investors move NCLT against Byju's rights issue, firm says yet to get any petition