The Russian government, along with domestic energy companies, is examining whether or not to immediately withdraw from the European market, Russian President Vladimir Putin said in a statement to Rossiya 1 television on Wednesday evening. Putin appears to be reacting to the indication from Brussels that Russian energy may, after all, be needed in the short term, due to the war in Iran and closure of the Strait of Hormuz. However, Putin may just decide to pull the plug now and start transitioning to other countries and regions that are not threatening a ban, reports Hirado. “They (…) plan to introduce restrictions on the purchase of Russian gas, including liquefied gas, starting in a month, (March) 25. A year later, in (20)27, further restrictions will come into effect, up to a complete ban. Now other markets are opening up. And perhaps it would be more beneficial for us to stop deliveries to the European market now. To move to those markets that are opening up and gain a foothold there,” he said. The move comes at time when gas prices are surging across Europe, leaving the EU vulnerable to a further supply shock. Putin made clear that no decision has been made in […]