Putin: Russia Will Look for More Key Partners Outside EU

Russian President Vladimir Putin stated on Thursday that Moscow will redirect deliveries of energy resources to new fast-growing markets of friendly countries.

"The European Union (EU) essentially continues consuming our goods and services but restrains backflows. The situation of such imbalances cannot last forever,” Putin said at a meeting of the Strategic Development and National Projects Council.

He added that Russia will look for more promising partners in proactively growing regions of the global economy outside the EU.

“These are Asia, the Middle East, Latin America, and Africa. We will redirect supplies of our energy resources right to the markets of friendly states," the Russian leader indicated.

In the same vein, Putin highlighted that oil exports to partner countries increased by nearly 25% during the first nine months (9M) of 2022.

In addition, the president underlined that the sanctions imposed on Russia open up new opportunities and become an incentive for building a fully sovereign economy.

Putin elaborated: "Sanctions restrictions have put many difficult tasks before our country. There have been problems with components, a shortage of technological solutions, and the usual logistics have been disrupted.”

“On the other hand, this opens up new opportunities, and is an incentive to build an economy that has full, and not partial, technological, production, and personnel and scientific sovereignty," he added.