It is a way of responding to sanctions. This Thursday, Vladimir Putin called for redirecting Russian energy exports from Europe to Asia, due to the crisis caused by its offensive in Ukraine.
“We are going to assume that in the future, deliveries to the West will drop,” said the Russian president during a government meeting devoted to the energy sector in the context of international sanctions. We must therefore “reorient our exports towards the markets in the South and East which are growing rapidly”, he added, accusing in passing the Europeans of “destabilizing the market” by wanting to do without Russian hydrocarbons.
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“Attempts by Western countries to oust Russian suppliers, to replace our energy resources with alternative supplies, will inevitably affect the entire world economy”, warned Vladimir Putin, assuring that “the consequences of a such a step can become very painful, and first of all for the initiators of such a policy”.
China, a difficult negotiator
This call to develop new outlets for his country’s fossil fuels – a “turn to Asia” that began several years ago – comes as the Europeans plan to expand their sanctions against Moscow’s hydrocarbons. A possible embargo on Russian gas is the subject of heated discussions among EU member states, with Germany being one of the main opponents of an immediate halt to these imports on which it is very dependent.
The EU, the United States and Japan, on the other hand, have already announced an embargo on Russian coal and the President of the European Commission, Ursula von der Leyen, has indicated that she will propose the objective independence of the EU from Russian fossil fuels by 2027. However, Russian oil and gas, which continue to flow to Europe – its first market – provide significant income for Russia .
Vladimir Putin did not specify which countries he was thinking of to redirect his exports, but China, whose appetite for hydrocarbons continues to grow, borders Russia. Beijing, however, has a reputation as a difficult negotiator, and Russia is looking to see beyond this neighbour.
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