Vladimir Putin warns of halting Russian gas supplies to Europe and Britain immediately, framing the move as a business decision amid escalating Middle East tensions. New markets emerge as tankers face disruptions in the Strait of Hormuz, prompting Russia to redirect exports.
Putin’s Direct Statement
Putin states that preemptively stopping supplies to Europe could prove advantageous. “Perhaps it would be more advantageous for us to stop supplies to the European market right now,” he declares. “Go to the markets that are opening and gain a foothold there.”
He adds that with the EU planning a full phase-out of Russian liquefied natural gas and pipeline supplies by year’s end, an earlier shift makes sense. “If they’re going to shut us down in a month or two anyway, wouldn’t it be better to stop now and go to those countries and those that are reliable partners, and gain a foothold there?” Putin instructs his government to collaborate with companies on this strategy.
Putin emphasizes emerging customers ready to pay premium prices due to regional instability. “Customers have emerged who are willing to buy the same natural gas at higher prices, in this case due to events in the Middle East, the closure of the Strait of Hormuz, and so on. This is natural; there’s nothing here, there’s no political agenda—it is just business.”
Potential Impacts on Energy Prices
Such a cutoff risks accelerating household energy price surges across Europe and Britain, straining fragile economies. While Britain sources most gas domestically and from Norway, wholesale prices tie closely to European markets via interconnectors and global LNG competition.
Russia supplies about 13% of EU gas imports in 2025, including pipeline and LNG. Disruptions could ripple through prices, indirectly affecting UK consumers.
Broader Geopolitical Context
US-Israeli strikes on Iran, a key Russian ally providing drones and missiles, follow the fall of Syria’s Assad regime. Higher oil and gas prices from the turmoil could bolster Russian revenues amid sanctions and ongoing Ukraine war costs.
Slovakia Pushes for Oil Pipeline Restart
Slovak Prime Minister Robert Fico demands resumption of Russian oil via the Druzhba pipeline to Slovakia and Hungary. He cites satellite evidence showing the main route undamaged despite Ukrainian claims. “The main route of the Druzhba oil pipeline is not damaged, so President Zelenskyy is demonstratively lying,” Fico asserts. Ukraine rejects independent inspections urged by the EU.
