Vladimir Putin warned of “catastrophic consequences” for world wide energy markets, with Europe nations most at chance, if western nations impose further sanctions on Russia more than its invasion of Ukraine.
European nations are working on finding choice resources of strength to replace Russian oil and gas imports, posing a chance to the prolonged-term stability of the sanctions-hit Russian financial state, which has been bolstered by revenues from its commodities exports.
But talking with members of authorities about video clip url on Friday, Russia’s president mentioned it was European nations around the world that facial area the biggest threat, as their move away from Russian strength will direct to increased gas costs on the location current market and for people.
“All this reveals, after once more, that sanctions on Russia conclusion up triggering considerably much more hurt to these countries that impose them,” Putin stated.
“The more use of sanctions could guide to even more severe penalties, even, without having exaggeration, catastrophic consequences on the international energy market place.”
Putin stated western international locations ended up making an attempt to convince other vitality producers to increase their output in get to preserve down price ranges, “but the electricity sector,” he said, “does not tolerate these types of fuss.”
Putin admitted that sanctions had been also having an influence on Russia and warned his ministers to not allow down their guard.
He claimed he could see some authorities officials relaxing a little also a great deal, adopting an attitude of: “I really don’t give a damn about these sanctions, screw them! It is all in the previous, we’ve coped with every thing and really feel confident,” Putin mentioned.
“Yes, we really should really feel confident, but the dangers remain,” he reported. “These steps, these limitations, they are detrimental our economy.”