Russia could immediately stop supplying gas to Europe, Putin says

Russia could immediately stop supplying gas to Europe and switch to more profitable markets, Russian President Vladimir Putin said yesterday. But this was not a decision, he added, only a line of thought, according to Reuters.

In connection with the European Union’s plans to end imports of Russian oil and gas, Putin remarked in a televised interview that Russia could itself begin an early withdrawal from the European market and redirect supplies to more promising customers.

"They are planning to introduce restrictions on purchases of Russian gas, including liquefied natural gas, in a month, and impose further restrictions a year from now, in 2027, up to a complete ban," Putin said of the EU’s position.

"But other markets are opening up now. Might it be more advantageous for us to stop supplying the European market right now? To move to the markets that are opening up and establish ourselves there?" he added, according to the state news agency TASS.

"I want to make it clear that there is no political motive here," Putin claimed.

"If they are going to end things with us in a month or two, wouldn’t it be better to stop now and go to countries that are reliable partners?" he mused.

"But this is not a decision. In this case, it is just, as they say, thinking aloud," the Russian president said, promising to issue the government with the relevant instructions.

Hungarian Foreign Minister Péter Szijjártó held talks with Putin today about oil and gas supplies. Unlike most EU countries, Hungary depends on Russian gas.

In January, EU member states gave final approval to a regulation under which imports of Russian liquefied natural gas (LNG) will end no later than 1 January 2027, while imports of Russian pipeline gas will be permitted under certain conditions until 1 November 2027 at the latest. The proposal passed despite opposition from ministers from Slovakia and Hungary. The procedure used to adopt the document meant unanimous approval was not required. European Commissioner for Energy Dan Jørgensen said the ban would prevent Russia from using its energy industry to blackmail EU member states.

Hungary has challenged the ban at the Court of Justice of the EU, and Slovakia has promised to do the same.

Russia also uses revenue from oil and gas exports to finance its war against Ukraine, which is now in its fifth year of resisting Russian aggression.