March 11, 2026 | 09:14 am
TEMPO.CO, Jakarta - Russian President Vladimir Putin stated that his country is ready to resume oil and gas supplies to Europe if the countries in the region ask for it. However, such cooperation must be long-term and free from political pressure on Moscow.
As reported by The Moscow Times, in a televised meeting on Monday, March 9, Putin said Russia has never closed its doors to European energy buyers.
"If European companies and European buyers suddenly decide to reorient themselves and provide us with long-term, sustainable cooperation, devoid of political pressures ... then go ahead. We've never refused," Putin said.
He emphasized that Russia is ready to resume cooperation with European countries as long as there are clear signals of long-term commitment.
"We're ready to work with Europeans, but we need some signals from them that they're ready and willing to work with us and will ensure this sustainability and stability," Putin said.
Putin's statement comes amid a surge in global energy prices triggered by conflicts in the Middle East. Global oil prices surged above US$100 per barrel this week for the first time since Russia launched a war in Ukraine in 2022. The price increase occurred after the United States and Israel launched an attack on Iran on February 28.
Russia-Europe Energy Relations
Energy relations between Russia and Europe have deteriorated since Russia's invasion of Ukraine in 2022. The European Union subsequently banned imports of Russian crude oil by sea as part of economic sanctions against Moscow.
Before the Ukraine war, Europe purchased more than 40 percent of its gas needs from Russia. However, by 2025, Russia's combined sales of pipeline gas and liquefied natural gas accounted for only about 13 percent of the EU's total energy imports.
Putin's statement also came hours after Hungarian Prime Minister Viktor Orbán urged the EU to suspend sanctions on Russian oil and gas. According to Orbán, this policy needs to be reconsidered to curb the surge in energy prices.
The Impact of the Middle East Conflict
According to an Al Jazeera report, the energy price spike was also triggered by the war between the United States and Israel against Iran. The conflict, which has been going on for more than a week, has triggered Iranian retaliatory attacks on US and Israeli targets and several facilities in the Gulf region.
The attacks have nearly halted the flow of oil and natural gas through the Strait of Hormuz, a strategic global energy shipping route. This has driven up global fuel prices and had a wide-ranging impact on various industrial sectors.
European Council President Antonio Costa said Russia has benefited most from the situation. "So far, there is only one winner in this war – Russia," Costa said in a speech to EU ambassadors in Brussels on Tuesday.
According to Costa, rising energy prices provide Russia with additional resources to finance its war in Ukraine. "It gains new resources to finance its war against Ukraine as energy prices rise," he said.
He also warned that the conflict in the Middle East has the potential to escalate global tensions.
"Freedom and human rights cannot be achieved through bombs. Only international law upholds them," Costa said. "We must avoid further escalation. Such a path threatens the Middle East, Europe, and beyond," he added.
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