The Russian president expressed confidence that
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On June 10, 2022, the BBC reported that Russian President Vladimir Putin said the West could not cut Russia's oil and gas for years.
He added that No one knew what was going to happen at that time. Therefore, Russian companies will not pour concrete over their own oil wells.
Putin's remarks came after US officials admitted Russia's energy gains now may be higher than in the pre-war period.
Currently, the European Union (EU) imports about 40% of Russian gas.
The EU has pledged to reduce its dependence on Russian oil by 90 percent by the end of 2022, but so far has not made any promises on reducing its dependency on Russian gas.
US bans all imports of Russian energy goods as punishment for Russia's invasion of Ukraine
But global oil and gas prices are soaring around the world. It means that Russian profits may increase in the past few months. even if the overall supply is reduced
“The amount of oil in the world market is decreasing. Prices have gone up,” Putin told a group of young entrepreneurs.
“Company profits are increasing,” he added.
The idea was echoed Thursday by US Energy Security Ambassador Amos Hochstein.
When asked during a Senate hearing whether Russia can now earn more from fossil fuels More than in the pre-war period, is it true? "Hochstein," replied, "I can't deny that."
