Putin Ignores Europe's Needs for Russian Gas, Says We're Turning East

Russian President Vladimir Putin stated that Moscow would work to redirect its energy exports eastward, adding that the European nations cannot ditch Russian gas immediately.

The European countries have imposed heavy sanctions on Russia in response to its invasion of Ukraine, a step that made Moscow stops supplying its gas to what it called "unfriendly countries".

"The so-called partners from unfriendly countries concede themselves that they won't be able to make do without Russian energy resources, including without natural gas, for example," Putin told a televised government meeting. "There is no rational replacement (for Russian gas) in Europe now."

Moreover, Putin indicated that Russia, which accounts for around a tenth of global oil production and around a fifth of gas, would need new infrastructure to boost energy supplies to Asia.

In the same vein, he ordered the government to present a plan by June 1 including "expanding transport infrastructure to countries of Africa, Latin America (and the) Asia Pacific".

The Russian leader has previously announced that Moscow will stop supplying gas to the “unfriendly” countries unless they pay in roubles.

The decree applies to 48 foreign countries “that commit unfriendly actions toward the Russian Federation, Russian legal entities and inpiduals”.

“We offer contractors from such countries a clear and transparent scheme,” he said. “We will continue to consistently and systematically move in this direction as part of a long-term plan, to increase the share of foreign trade settlements in the national currency and the currencies of those countries that are reliable partners.”