Putin: West unlikely to reject Russian energy for years

[Eugene]

Source: BBC

Putin: West unlikely to reject Russian energy for years

By Ben Tobias
BBC News

9 June 2022

Russian President Vladimir Putin says the West will not be able to cut itself off from Russian oil and gas for several years.

He added that nobody knows what might happen in that time, so Russian companies would not be "concreting over their oil-wells".

It comes as a US official admitted that Russian profits on energy may be higher now than they were before the war.

The EU currently imports around 40% of its gas from Russia.

The bloc has pledged to reduce its dependency on Russian oil by 90% by the end of 2022, but so far has not made any commitments on gas.

-snip-

Read more: https://www.bbc.com/news/world-europe-61752779

[PortTack]

1. I hope he's proved wrong or we're going to be right back in the same nightmare war scenario

That’s playing out right now

[DetlefK]

2. Putin is technically correct, but there are two things he doesn't mention

1. The EU just yesterday passed a law banning the sale of petrol-cars after 2035. That means, that all european carmakers will start making electric cars. And since no carmaker wants to end up loser in this race, we can expect an avalanche of new and cheaper electric cars way before that. NOT RIGHT NOW, but well before 2030.

Oh, and btw, China has a problem with high energy-consumption. I think that China will at some point also go electric, just to reduce dependence on foreign oil.



2. Russia has RIGHT NOW already made so much money from the high gas-prices, they have a hefty foreign trade profit... BECAUSE THEY CANNOT IMPORT ANYTHING DUE TO THE SANCTIONS.

The West can buy russian gas and at the same time still destroy the russian economy by refusing to sell western ressources (like microchips) to Russia.

Russia has all the money, but they cannot spend it on goods.