On October 27 local time, at the eighth summit of the G8 Natural Gas Exporting Countries Forum held in Moscow, Russian President Vladimir Putin criticized Europe for abandoning Russia's energy and tearing up long-term supply contracts, stating that these actions were harming Europe's own industrial and social well-being.
Putin said at the meeting that Russian natural gas companies have faced some challenges in recent years, including restrictive measures taken by certain countries. He pointed out that any attempt to exclude Russia from the global natural gas market and hinder the development of Russia's natural gas industry will have serious consequences. The direct cost is the high costs that overseas end users, including enterprises, industrial sectors, and ordinary households, will have to bear as prices continue to rise.
We see this situation in Europe today: Europe is abandoning Russian energy supply, tearing up long-term contracts, and in fact, is hitting its own industrial and social welfare. He said, “As a saying goes in Russia: ‘Don’t dig a pit to harm others, be careful not to fall into it yourself.’ ”
Putin added that the consequences of these actions are now evident across the entire European continent. To address the long-term imbalances and challenges faced by the global natural gas industry, the international community should not create trade barriers artificially, but rather strengthen cooperation based on mutual benefit and respect.
