Putin claims Europe has no alternative for Russian energy resources
Russian President Vladimir Putin said Thursday that attempts by Western countries to exclude Russian energy suppliers will affect the global economy and that European Union countries have no alternative resources.
"Consequences of such a step can become quite painful, first of all, for initiators of such a policy," Putin said during a meeting with top officials on the situation in the Russian oil and gas sector.
Putin claimed that Russian natural gas can't be replaced by alternative resources.

"What is surprising here: so-called partners from unfriendly countries assume that they can avoid Russian energy resources, including natural gas. Its reasonable replacement for Europe doesn't exist. It is possible, but it doesn't exist so far," Putin said. "Everyone understands there is no free volume (of energy resources) on the world market."
Putin said Moscow will redirect its energy eastward, as European countries try to reduce reliance on Russian exports.
"EU countries talk of cutting off energy supplies from Russia, driving up prices and destabilizing the market," Putin said.
Putin said that Russia should embark on building infrastructure for eastward oil and gas exports as the country needs to diversify its energy supplies away from Europe.





