Western nations cannot refuse Russian fuel: President Vladimir Putin -

Moscow: Russian President Vladimir Putin warned that no matter how many sanctions the West imposes and creates alternatives, these countries will not be able to refuse Russian fuel for many years. Putin also pointed out that the sanctions imposed on Russia have led to a decline in fuel supplies worldwide, prices are skyrocketing, and profits for companies are also increasing. A few days ago, the European Union had announced a 90 per cent reduction in crude oil imports from Russia by the end of this year. Against this backdrop, Putin’s warning is noteworthy.

Russia’s share in the global fuel sector is about 10%. Besides crude oil and natural gas, Russia is also a leading coal exporter. More than 30% of Europe’s total fuel demand is met by Russia alone. At the same time, leading countries such as China, India and Japan are also supplied with a large amount of fuel from Russia.

In the wake of the Ukraine conflict, Western countries have tried to disrupt Russia’s fuel sector. However, instead of causing damage to Russia, the United States and European countries have suffered major shocks. Inflation and fuel prices in these countries have flared to record levels, and the common man is suffering the most from it. However, the rulers in these countries have put all the blame on Russia.

There were threats to break the backbone of the Russian economy while imposing sanctions on Russia. But Russia’s economy has not been hit hard, and fuel production is smooth. It was also revealed that Russia’s income from fuel has increased. There have been reports of senior officials in the US Congress making a confession in this regard.