Russia to seek alternative to European energy market: Putin

Exports hit by European sanctions

April 13, 2022 11:01 pm | Updated 11:01 pm IST - Moscow

Russian President Vladimir Putin attends a meeting on the development of the Russian Arctic zone via videoconference at the Novo-Ogaryovo residence outside Moscow, on April 13, 2022.

Russian President Vladimir Putin attends a meeting on the development of the Russian Arctic zone via videoconference at the Novo-Ogaryovo residence outside Moscow, on April 13, 2022. | Photo Credit: AP

Russian President Vladimir Putin said on Wednesday Moscow will be looking into alternative markets for its energy exports after Western capitals sanctioned Russia over its military operation in Ukraine.

Since Moscow’s invasion of Ukraine, Russia has faced a barrage of unprecedented sanctions, including embargoes on its energy exports.

“We have all the resources and opportunities to quickly find alternative solutions,” Mr. Putin said during a televised government meeting on the development of the Russian Arctic.

“As for Russian oil, gas and coal — we can increase their consumption on the domestic market... and also increase the supply of energy resources to other parts of the world, where they are really needed,” Mr. Putin added.

The United States banned the import of Russian oil and gas, while the European Union and Japan banned the import of Russian coal.

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