“Let’s imagine that they ban tomorrow the supplies of our gas, oil, etc. The global economy could not withstand it. Only prices will shoot up, but consumers will continue to buy,” Putin said at the event’s plenary session this Thursday, the Kremlin press office informed.

The president indicated that European economies, including Germany, which depend on Russian energy resources, “are facing very severe challenges, and many industries are simply shutting down.”

We will gradually increase our gas supplies to other global regions. There is a good project to supply this fuel to China. We will reach the planned capacity of 38 billion cubic meters next year,” the president said.

He also noted that Iran has been long asking Russia to supply it with gas, and added that “this is a feasible project, considering the huge markets in Iran’s neighboring countries.”

Since the beginning of the special military operation in Ukraine on February 24, 2022, the European Union (EU) has adopted 14 packages of restrictive measures against Russia.

The latest package, agreed in June, includes sectoral measures such as a ban on transit of Russian liquefied natural gas (LNG) through European ports and on investment in LNG projects under construction in Russia.

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