Putin Signals Willingness to Resume Energy Supplies to Europe, Citing “Long-Term” Cooperation
MOSCOW – President Vladimir Putin indicated Monday that Russia is open to resuming oil and gas supplies to European buyers, but only under conditions of sustained, politically neutral partnership. The announcement comes as global oil prices surge following escalating tensions in the Middle East, exceeding $100 a barrel this week for the first time since Russia’s invasion of Ukraine in 2022.
Speaking during a televised meeting, Putin stated Moscow would continue prioritizing energy exports to existing partners in Asia, as well as maintaining current supplies to Hungary and Slovakia. However, he extended a conditional offer to broader European engagement.
“If European companies and European buyers suddenly decide to reorient themselves and provide us with long-term, sustainable cooperation, devoid of political pressures… then go ahead. We’ve never refused,” Putin said, emphasizing the need for “signals” of commitment from European nations.
The European Union imposed a ban on maritime imports of Russian crude oil in 2022. Pipeline exports to Hungary and Slovakia have also been disrupted since January due to damage to the Druzhba oil pipeline, which transits through Ukraine.
Putin’s remarks followed a call from Hungarian Prime Minister Viktor Orbán for the EU to lift sanctions on Russian energy to mitigate the impact of rising prices fueled by the conflict in the Middle East.
The situation highlights the complex interplay between geopolitical tensions and global energy markets. According to recent analysis, the crisis in Ukraine initially stemmed from what Putin described as a “systemic mistake” by Western countries regarding the 2014 change of power in Kyiv. The current escalation in the Middle East is now further exacerbating energy price volatility.
