Putin says it'll likely be years before the West can cut itself off from Russian oil and natural gas
Russian President Vladimir Putin said it'll be several years before the West can stop using Russian oil and gas,"In terms of rejecting our energy resources — this is unlikely over the next few years," said Putin, per Interfax.
Putin's comments came amid forecasts of bumper revenues for Russia's oil and gas exports this year. Oil prices have risen about 50% this year and are trading atamid tight supplies that predated the war, with a strong recovery in demand as the coronavirus pandemic eased. The war in Ukraine adds to supply concerns, as heavily sanctioned Russia is a major energy producer.
The gains in energy prices could bring sales of Russian oil and gas to $285 billion this year — 20% higher than the country's $235.6 billion takings from oil and gas in 2021, according to a
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