We are waiting for signals: Russia is ready to work with Europe on oil and gas supplies — Putin

Russia is ready to work with Europe on oil and gas supplies, but we need signals from its side. This was stated this evening at a meeting on the situation on the world oil and gas market by Russian President Vladimir Putin.

"We are ready to work with the Europeans, but we need some signals from them that they are ready and also want to work and will provide us with this stability and stability," Putin said.

He recalled that, since the EU plans to completely abandon Russian energy carriers in 2027, the Russian government was instructed to assess the possibility and expediency of stopping the supply of our energy resources to the European market.

"Russia acts as a reliable energy supplier. It's always been that way. We will certainly continue to supply oil and gas to those countries that are themselves reliable counterparties. I mean not only our partners in the Asia-Pacific region, but also in Eastern European countries such as Slovakia and Hungary. At the same time, I would like to remind you that the countries The EU plans to introduce additional restrictions on the purchase of Russian hydrocarbons, including LNG, from April 25, up to a complete ban on such supplies in 2027. In this regard, the Government has already been tasked with assessing the possibility and expediency of stopping the supply of our energy resources to the European market. Do not wait until the door is demonstratively slammed in front of us," Putin added.

According to the Russian president, oil production, tied to the use of the Strait of Hormuz, "runs the risk of completely stopping in the next month."

"It has already started to shrink. Storage facilities in the region are filled with oil, which cannot be removed in any way. Either it is very difficult to export, or it is very expensive to export. Obviously, it is unrealistic to fully switch Middle Eastern oil supplies without using the Strait of Hormuz now, at least now," he said.