Putin Says Russia Should Redirect Energy to ‘the South and the East’
With the United States banning Russian energy imports, and Europe weighing how far to go in doing the same, President Vladimir Putin of Russia told top officials and industry representatives this past week that Moscow should be looking to redirect its energy exports to “promising markets” in “the south and the east.”
“When you look at the amount they send to Europe, even if Europe halves its dependence, that would be a huge amount to send elsewhere,” said Philip Andrews-Speed, a senior principal fellow at the National University of Singapore’s Energy Studies Institute. Europe accounts for about half of Russia’s crude oil and condensate exports, three-quarters of its natural gas exports and one-third of its coal exports, according to the U.S. Energy Information Administration.India said in mid-March that it was in talks with Russia to increase oil imports at a discounted price, despite warnings by some U.S. officials that undercutting efforts to isolate Russia could have consequences.
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