(Reuters) – Russian President Vladimir Putin said on Tuesday it was impossible for some European countries to quickly give up Russian oil, as the European Union wants.
EU members are negotiating a proposal for an oil embargo on Russia due to the Ukraine conflict, but talks broke down this week after Hungary, which is highly dependent on Russian oil imports, vetoed it.
“It is obvious that some states of the European Union, whose share of Russian hydrocarbons in the energy balance is particularly high, will not be able to do without our oil for a long time,” Vladimir Putin said. .
Speaking in a televised meeting with oil officials and national officials, he also said Western sanctions and a possible embargo on Russian oil had driven global oil prices higher.
He added that by giving up Russian energy supplies, Europe risked paying the most expensive tariffs in the world in the long term, while the competitiveness of its industry would be undermined.
He also said Western sanctions had fueled inflation in Europe itself.
“There are tectonic changes in the oil market, and doing business as before, according to the old model, seems unlikely,” conceded Vladimir Putin, adding that it was important to establish a complete chain of oil. producer to the final buyer.
He promised state aid to domestic oil producers, including facilitating access to loans and insurance.
(Reuters report, French version Lou Phily)
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