Amid the global energy crisis triggered by the US-Iran war in the Middle East, Russian President Vladimir Putin has instructed his government officials to evaluate the possibility of stopping energy supplies to the European market.
According to a statement carried by the Russian Embassy in South Africa, Putin said that the EU countries are planning to impose additional restrictions on Russian LNG and energy, and that the country should not wait for the door to be shut in our face.
“EU countries plan to impose additional restrictions on Russian LNG and energy. I have instructed the government to evaluate the possibility of STOPPING energy supplies to the European market, without waiting for the door to be shut on our face,” he said.
The US and Israeli attacks on Iran and the latter’s retaliation have paralysed the energy supply route from Qatar, as the Strait of Hormuz, a key shipping corridor, has been severely impacted. Iran had warned that it would target any ships that pass through the Strait of Hormuz.
This has led to a sharp increase in crude oil prices, and at one point of time on Monday, they reached USD 120 per barrel but came down to below the USD 100 level. The production of LNG and LPG has also been affected due to Iranian strikes on several Gulf nations.
The US and Europe have imposed sanctions on Russia due to its war against Ukraine. However, with energy prices soaring, the US and European nations have hinted at granting some waivers to Russia.
However, Putin said that Moscow is ready to cooperate with the Europeans only if they commit to long-term and sustainable cooperation, which is free from political pressures.
“If European companies and European buyers suddenly decide to reorient themselves and provide us with long-term, sustainable cooperation, free from political pressures, then yes, we’ve never refused it. We’re ready to work with Europeans too,” said Putin.