Putin: Europe has trapped itself

Russian President Vladimir Putin stated that European Union countries have faced the consequences of abandoning Russian gas. Speaking at the Gas Exporting Countries Forum in Moscow, he recalled the saying: "Do not dig a hole for another, or you will fall into it yourself."

According to Putin, the rejection of Russian energy resources is damaging European industry and the social sphere. At the same time, Russia, as the Russian president asserts, remains a responsible supplier of gas to foreign markets and ranks first in the world in reserves of this fuel.

Putin also noted that the global gas market has faced uncertainty due to a reduction in supply amid continuing demand. Against this backdrop, prices have risen sharply, but they may subsequently fall just as significantly.

According to the head of the Russian state, natural gas accounts for about a quarter of the global energy balance. He predicts that by 2050 annual gas consumption in the world could reach 5.5 trillion cubic meters. The forum's member countries, according to his data, account for about 70% of the world's gas reserves.

In addition, Putin proposed that partners work on optimizing fuel supply routes and said that Russia is exploring opportunities for cooperation with the United States in the Arctic.

Separately, the Russian president called the sabotage of the Nord Stream gas pipelines direct acts of terrorism.

Source: TASS