During a speech at the plenary session of the international forum ‘Russian Energy Week’ in Moscow, Putin stated that the European Union’s refusal to import energy from Russia led to a decline in European industry and rising prices.
Putin mentioned in the international forum ‘Russian Energy Week’: ‘Many European countries, under political pressure, refused to purchase Russian energy resources. I have already noticed the consequences of this refusal on Western countries themselves and their economic production capabilities. We are now witnessing the repercussions of these actions in the European Union, including a decrease in industrial business volumes, increased prices due to rising oil and gas prices from abroad, and a decline in the competitiveness of European goods and the economy as a whole.’
According to the Russian president, ‘The supply chain is being rebuilt and shifted towards southern and East Asian countries and Latin America through more reliable routes.’
The Russian president pointed out that ‘sanctions have led to a reduction in Germany’s production, which is considered the engine of the European economy.’
During his speech at the international forum ‘Russian Energy Week,’ Putin promised to present Russia’s perspective on the challenges facing the global and Russian fuel and energy sectors.
Russian President Vladimir Putin stated that internal combustion engine vehicles will be used worldwide for a long time to come.
The Russian president emphasized that ‘the demand for gas in Europe is lower than the 2019 levels due to a decrease in industrial production.’ According to President Putin, ‘Russia is working to increase its gas export potential, including liquefied natural gas.’
He also mentioned that Russia provides about 10% of global oil production and maintains gas production at a high level, but needs to increase production of reserves that are difficult to extract.
President Vladimir Putin declared that coal still constitutes a significant share of the global energy balance. During the plenary session of the Russian Energy Week international forum, Putin said, ‘Despite the negative forecasts of some experts, coal still constitutes a significant share of the global energy balance.’
Russian President Vladimir Putin announced that over the past four years, nearly one million families in Russia have received pipeline gas, and this number is expected to increase by another two million families. Putin explained during a session at the international forum ‘Russian Energy Week’ that nearly 100,000 kilometers of gas distribution networks have been laid over the past five years. As a result, the gasification rate in Russia is approaching 75% and will continue to rise.
The Russian Energy Week international forum is a major international platform for discussing current development trends in the modern fuel and energy sector. This event is traditionally held at the highest level, with the participation of executives from major energy companies. The forum brings together representatives from the legislative and executive branches, leaders of major energy companies, representatives of governments and foreign companies, scientists and experts, young energy experts, and journalists from federal and regional media from more than 80 countries.
