Putin “thinks out loud” to suspend gas delivery to Europe, amid crisis in the Middle East: “Now other markets are opening”
Vladimir Putin is suggesting that Russia could stop gas supplies to Europe “now” and redirect them to more profitable markets, which would exacerbate the energy crisis amid war in the Middle East.
Vladimir Putin sees new profit opportunities amid the Middle East crisis. PHOTO: AFP
Russian President Vladimir Putin said on Wednesday (March 4th) that Russia is considering immediately cutting off natural gas exports to Europe, reorienting itself to markets that offer better profit opportunities. The statements were made during an interview given to Russian state television and picked up by the Reuters agency.
“Now other markets are opening up. And maybe it would be more profitable for us to stop supplying the European market right now. Let's turn to the markets that are opening up and establish ourselves there,” the Kremlin leader said.
However, Vladimir Putin stated that he has not yet made a clear decision in this regard, because he is still analyzing this idea.
“But it's not a decision, in this case it's what's called 'thinking out loud'. I will certainly order the government to work on this issue together with our companies.” the Russian president added.
In the same interview, Vladimir Putin emphasized that Russia has always been a reliable energy supplier and will continue to maintain stable collaborations with partners considered reliable, such as Slovakia and Hungary, countries that still depend on Russian gas for domestic supplies.
The Kremlin leader's statements come in the context in which Serbia, one of the few European buyers of Russian gas (more than 80% of what is needed comes from Russia), is trying to diversify its sources of supply. Serbian President Aleksandar Vučić told Reuters his country is already negotiating purchases through the European Union's common purchasing mechanism as it gradually reduces reliance on Russian imports.
The warning issued by Vladimir Putin regarding the possible suspension of gas exports to Europe comes in a context of increasing pressure from the European Union.
The European Commission is to present on April 15 a legislative proposal for a permanent ban on oil imports from Russia, just three days after the parliamentary elections in Hungary, according to some EU officials.
In parallel, in December 2025, the European Parliament had adopted a resolution to phase out Russian gas imports by 2027, covering both liquefied natural gas (LNG) and gas delivered through pipelines, as part of the energy security strategy and reducing dependence on Russia.
In this context, Serbia, which continues to mainly import gas from Russia (more than 80% of its needs), has started diversifying its sources of supply.
Serbian President Aleksandar Vucic said his country is already in talks to buy through the European Union's common purchasing mechanism, gradually reducing reliance on Russian imports as it aspires to join the EU.
