“We have to diversify our exports,” he said at a cabinet meeting on Thursday. The energy supplies to the west “will decrease”, instead “the strongly growing markets in the south and in the east” would be served “step by step”. Russia must continue in the direction it took years ago, Putin said at the televised meeting on energy shifts. The meeting focused on the country’s energy sector against the backdrop of Western sanctions against Russia.
At present, Russia continues to supply oil and natural gas to Europe, which is Russia’s most important market. However, a possible gas embargo against Russia is currently being discussed in the EU. So far it has failed because of Germany, among others, since the Federal Republic is particularly dependent on Russian gas. A coal embargo, on the other hand, has already been announced by the EU, the USA and Japan.
“European countries are constantly talking about cutting off Russian supplies and by doing so they are destabilizing the market and pushing up prices,” Putin said. Attempts by Western countries to “squeeze out Russian suppliers and replace our energy resources with an alternative supply will inevitably weigh on the entire global economy.” The consequences of such a step could be “very painful, especially for those responsible for such a policy”.
Source: Nachrichten
