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Putin commented on plans for an oil and gas embargo

Putin commented on plans for an oil and gas embargo

Europe could become the region with the highest prices for gas and oil in the event of abandoning Russia’s energy resources, Putin said.
A number of European countries will not be able to give up Russian oil and gas for quite some time, Russian President Vladimir Putin believes. So on Tuesday, May 17, he commented on the EU plans to impose an embargo on Russian energy resources.

“Today we see that for absolutely political reasons, due to their own ambitions and under pressure from the American overlord, European countries are imposing more and more new sanctions on the oil and gas markets,” Putin said during a meeting on the development of the oil industry.

“The Europeans openly admit that they cannot yet completely abandon Russian energy resources. It is all the more obvious that some EU states, in whose energy balance the share of Russian hydrocarbons is especially high, will not be able to do this for a long time, to abandon our oil,” the President of the Russian Federation added. .

Putin notes that such actions led to an increase in energy prices.

“One gets the impression that Western colleagues, politicians and economists have simply forgotten about elementary basic economic laws or, to their own detriment, prefer to deliberately ignore them,” he said.

According to him, in the event of a complete rejection of Russia’s oil and gas, Europe will become the region with the highest prices for energy resources.

According to media reports, an agreement between the EU countries on a phased embargo on Russian oil can be reached at the summit on May 30-31.