US EditionPutin says energy crisis has arrived but Russia is ready to work with Europe
Russia signals readiness to supply Europe with oil and gas, citing a global energy crisis driven by Middle East conflict and Strait of Hormuz disruptions.
- At a televised Kremlin meeting Putin told officials on March 9, 2026 that the Iran war triggered a global energy crisis and oil production reliant on the Strait of Hormuz could halt.
- With the Strait of Hormuz effectively closed due to the Iran war, G7 ministers discussed releasing oil from strategic reserves to address the disruption of roughly a fifth of global oil and LNG flows.
- Given its export and reserve position, Russia is the world's second-largest oil exporter and holds the largest natural gas reserves, while Putin urged Russian companies to capitalise on current Middle East market conditions, calling the price spike temporary.
- Putin said Europe could return to cooperation if 'European companies and European buyers suddenly decide to reorient themselves and provide us with long-term, sustainable cooperation, free from political pressures, free from political pressures, then yes, we've never refused it.'
- Markets reacted as oil topped US$100 per barrel on Monday, and Putin signalled Russia was ready to supply oil and gas to Europe amidst disrupted transit routes.
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Europe braces for an energy crisis
Listen on Spotify Apple Music Amazon Music European leaders haunted by memories of the 2022 energy crisis are bracing for impact as the war in the Middle East begins to drive up oil and gas prices. Today on the podcast, host Zoya Sheftalovich and Chief Foreign Affairs Correspondent Nicholas Vinocur discuss what tools the EU has at its disposal to soften the blow for consumers — is the bloc better…
Putin Throws Energy Lifeline to Europe Amid Iran War — Says Russia Is Ready for Long-Term Oil and Gas Deals if Politics Are Removed | The Gateway Pundit | by Jim Hᴏft
As war in the Middle East rattles global energy markets and threatens one of the world’s most critical oil routes, Russian President Vladimir Putin is signaling that Moscow stands ready to step back into Europe’s energy market, if European leaders are willing to drop the “political pressure.” Speaking Monday during a televised meeting with government officials and executives from Russia’s largest energy firms, including Gazprom, Rosneft, and Tra…
Energy prices are rising because of the war with Iran – and from Moscow there is suddenly a signal that is expected to attract attention in Europe. Kremlin chief Vladimir Putin has shown Russia in principle openly for new oil and gas deliveries to European countries – but he has clear conditions for this. Russia is ready to cooperate more closely with Europe again, Putin said on Monday during a TV broadcast cabinet meeting. However, the prerequi…
Russian President Vladimir Putin said today that the US and Israel's war against Iran has caused a global energy crisis and warned that oil production dependent on passage through the Strait of Hormuz could come to a complete halt in the coming month.
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