Vladimir Putin is threatening Europe, including Britain, with an immediate gas conflict as he attempts to weaponize the Middle East crisis to strike at the West. A decision by the Russian leader to abruptly halt remaining energy exports to the continent could magnify anticipated price increases for households stemming from the upheaval in the Gulf region.
Putin informedhis state-controlled mediaoutlets that he might take preemptive action to impact consumers across the EU and broader Europe.
The disruption surroundingthe Strait of Hormuz—with tankers prevented from reaching their destinations—has created alternative markets for Russian gas, he indicated.
"Perhaps it would be more advantageous for us to stop supplies to the European market right now," said Putin. "Go to the markets that are opening and gain a foothold there."
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Prior to the Gulf crisis, the EU had committed to phasing out Russian liquefied natural gas [LNG] and pipeline deliveries, aiming for complete termination by the end of next year as retribution for Putin's military campaign.
"If they're going to shut us down in a month or two anyway, wouldn't it be better to stop now and go to those countries and those that are reliable partners, and gain a foothold there...?"
"I will definitely instruct the government to work on this issue with our companies." With a smirk, Putin remarked: "Customers have emerged who are willing to buy the same natural gas at higher prices, in this case due to events in the Middle East, the closure of the Strait of Hormuz, and so on.
"This is natural; there's nothing here, there's no political agenda - it is just business." In reality, the US-Israeli military action against Iran represents a setback for Putin, striking his strategic partner Iran - a key provider of military drones and missiles - coming on the heels of the collapse of the Assad regime in Syria.
However, a potential silver lining for Moscow is that surging oil and gas prices could bolster revenues precisely when his economy is straining under sanctions and the financial burden of his four-year conflict inUkraine.
Source: Drudge Report
