War in Ukraine: for Vladimir Putin, Europe's energy policy is economic suicide

Sylvie Claire / May 18, 2022

Russian President Vladimir Putin described European energy policy as economic suicide at a meeting with the oil industry on Tuesday.
It is clear that with the departure of Russian energy resources from Europe to other parts of the world, there is also a possibility of more economic activity. The Russian president was referring to the debate in the EU about an embargo on Russian oil. Hungary is still opposed to it.
Vladimir Putin said that high energy prices were weakening the competitiveness of industry in Europe. "By turning away from Russian energy sources, Europe is systematically becoming the region with the highest energy costs in the world for a long time, the president said.
He says Europe is ignoring the damage done to its own industry. That is, of course, their problem. We have to act pragmatically and consider our own interests first. It is unlikely that we can continue to do business as before. So Russia is increasingly looking to Asia.
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