Putin warns: "Oil in Hormuz risks a month’s stop". And it offers energy to Europe

Oil production linked to the Strait of Hormuz risks stopping completely within the next month. Russian President Vladimir Putin declared this, declaring that the Strait is “effectively closed”.

“Ready to supply energy to European countries”

Putin assured that Moscow is ready to supply hydrocarbons to European countries that request them, against the backdrop of the crisis generated by the war in the Middle East. “If European hydrocarbon buyers provide Russia with long-term contracts without political pressure, Russia will be ready to cooperate with them,” he said.

“Gas prices are rising faster than oil prices”

Global gas prices are rising faster than oil prices, Russian President Vladimir Putin said. “In my opinion, global gas prices are also increasing at an even faster pace than oil prices,” Putin said during a meeting on the situation on the world oil and gas market, as reported by Ria Novosti.

“We had warned against destabilizing the area”

Russia had warned that attempts to destabilize the situation in the Middle East would jeopardize the global fuel and energy system and cause a rise in oil and gas prices, Russian President Vladimir Putin said. “I would like to point out right away that Russia warned that attempts to destabilize the situation in the Middle East would inevitably jeopardize the global energy and fuel complex with an increase in oil and gas prices, limitations on supplies of these resources around the world and, of course, disruption of long-term investment plans,” the Russian leader said at a meeting on the situation on the world oil and gas market.