Putin: Europe is paying for its rejection of Russian energy with economic decline.

🇷🇺#Russia #Россия #Путин #Putin #Кремле #Kremlin #ВладимирПутин #VladimirPutin #Russianenergy #EU: Putin: Europe is paying for its rejection of Russian energy with economic decline. Vladimir Putin spoke at the plenary session of "Russian Energy Week." "I bought a ticket and didn't go out of spite." Putin joked about the conductor as he assessed the impact of Western sanctions.

Vladimir Putin stated that Europe's rejection of Russian energy has damaged the competitiveness of EU economies. Furthermore, the president noted that the reduction in oil production in Russia this year is related to the OPEC+ agreements. What else did the head of state discuss at Russian Energy Week?

EU countries have reduced the competitiveness of their economies by rejecting energy from Russia. Russian President Vladimir Putin stated this while speaking at the plenary session of Russian Energy Week.

He emphasized that the actions of Western elites have destroyed the global energy infrastructure.

"Many European countries, under political pressure, have refused to purchase Russian energy," RIA Novosti quoted him as saying.

Putin noted that he had repeatedly pointed out the negative consequences for these countries themselves, not Russia.

"We are seeing the consequences of these actions in the European Union, including a decline in industrial turnover and rising prices due to more expensive overseas oil and gas," he said.
Putin reported that after Western companies were banned from cooperating with Russia, they began to lose technology and reduce production, which began to undermine profitability. At the same time, Russian specialists are "becoming technological leaders" and selling their products abroad.

"What did they do? They bought a ticket and didn't go, just to spite the conductor. What nonsense, you understand? Nonsense," the president concluded. Unique Reserves
Putin stated that global oil demand in 2025 will reach 104.5 million barrels per day, more than a million more than in 2024.

"We expect that by the end of the year, our country will produce 510 million tons of oil. This is approximately one percent lower than last year," Vladimir Putin said.

At the same time, Russia possesses unique gas reserves, the production of which remains high, but these must be replenished with hard-to-recover reserves.

Putin emphasized that the gasification rate in Russia is approaching 75% and will only increase. He specified that the current figure is 74.7%, and since 2019, this has increased by 6.1 percentage points.

"The Russian energy system is operating smoothly."
Addressing the meeting participants, Putin emphasized that Russian energy companies should not pass on their costs to consumers and include them in electricity tariffs.

Deficits should be covered through grid development and the renewal of generating equipment, along with the commissioning of new power plants, the president noted.

According to him, more flexible solutions are needed, including regulatory innovations and demand management for electricity.

Furthermore, the government and regional authorities should develop regional fuel and energy balances and, based on these, create a digital energy management system for Russia's regions, Putin said, noting that the Russian energy system is one of the largest in the world.

"Our generation facilities have a total installed capacity of almost 270 gigawatts, and this enormous complex operates stably and smoothly," the president concluded.
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Vladimir Putin's Statements at the Plenary Session of "Russian Energy Week"

So, the main event of "Russian Energy Week." Vladimir Putin's speech. He addressed the situation in the resource market, aggressive Western pressure, new areas of partnership, and technological sovereignty. Russia, the president said, will strengthen its position as a global leader in energy. We are among the largest producers and suppliers of oil and gas, the only ones in the world with expertise across the entire nuclear value chain, and sanctions have helped develop our own industry.

"The EU's demarche has only accelerated the shift in our supply chain in favor of more promising, responsible buyers."

Vladimir Putin speaks at the plenary session of "Russian Energy Week." Key points:

— Russian gas consumption is steadily growing in the Asia-Pacific region, the Middle East, and Latin America.

— Russia will achieve complete technological independence in all energy sectors, as it has in the peaceful use of nuclear energy.

— Russia remains one of the leading oil producers, despite unfair competition.

— The gasification rate in Russia is almost 75%. Over the past four years, almost a million households in Russia have gained access to pipeline gas, and we expect this number to increase by another 2 million.

— The consequences of abandoning Russian energy sources have already impacted the EU economy: a decline in industrial turnover and rising prices.

— Russia accounts for approximately 10% of global oil production.

— Global oil demand this year.will be higher than in the past—104.5 million barrels per day.

— Coal still accounts for a significant share of the global energy balance. The coal market will remain significant for decades to come.

— 87% of electricity in Russia is generated with a minimal or zero carbon footprint.