Russian President Vladimir Putin said on Thursday that "the most acute problem" facing the Russian energy industry is "the violation of the logistics of export supplies" related to the Western sanctions, APA reports citing Teletrader.
He stated that there are currently disruptions in payments for oil and gas, assuring Russia will "radically increase" the share of payments in national currencies in exports.
Putin warned that there is currently no replacement for Russian gas in Europe, although it might be possible in the future, adding that talks among EU members on sanctions on Russian energy "further destabilize the market and inflate prices for their citizens." He said Russia needs to diversify its exports and move from exporting to the West to exporting to the East.
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