Putin says Russia will not mothball wells despite a western import ban


Russian President Vladimir Putin said Thursday that Russian companies would not block their wells, despite Western efforts to reduce their reliance on energy supplies from Moscow.

The United States introduced a Russian import ban in March shortly after Moscow sent troops to Ukraine, but the European Union in principle last month to gradually reduce 90% of Russia’s oil imports by the end of this year. Agreed to.

Putin said Western nations would not be able to completely stop Russia’s use of energy resources in the next few years.

“As far as the rejection of our energy resources is concerned, this is unlikely for the next few years, but it’s not clear, but it’s not clear what will happen in those years. That’s why no one wells cement. I wouldn’t pour into it, “Putin said in a video conference with a young entrepreneur.

Russia’s oil production fell by about 9% in April, but has steadily increased since then, despite drastic western sanctions on Russia as Moscow diverted oil exports to Asia, especially India and China. I am.

U.S. energy security envoy Amos Hochstein said Russia is more from fossil fuels than it was before the start of its “special military operations” in Ukraine, as global price increases offset the impact of Western sales-restriction efforts. He said he may be earning money. Early Thursday.

Putin said sanctions have increased prices while reducing oil supplies to the global market.

“The profits of (Russian) companies are rising financially. Everyone sees it and everyone understands it,” he said.

Reuters

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