Putin hints at halting gas to Europe amid Iran war

As the intensifying conflict in the Middle East drives a surge in global energy prices, Russian President Vladimir Putin on Wednesday suggested that Russia could consider halting its energy supplies to Europe “immediately.”Putin’s comments came amid reports that the European Union is planning to completely ban imports of Russian pipeline gas by the end of 2027 and stop signing new short-term contracts for Russian LNG from April 2026.

Putin floats idea of redirecting Russian energy exports away from Europe

Speaking in an interview with state television correspondent Pavel Zarubin, Putin said that Russia may find it more beneficial to redirect its energy exports to emerging markets. “New markets are opening up. It may be more profitable for us to stop supplying the European market right now and instead move to those markets and establish ourselves there,” he said.However, the Russian leader clarified that the idea is only under consideration and that no formal decision has been taken.“This is not a decision; it is simply thinking out loud. I will instruct the government to examine this issue together with our companies,” Putin added.

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Energy markets grew volatile after the United States and Israel launched coordinated airstrikes on Iran, triggering retaliatory attacks across Gulf countries. The conflict has disrupted shipping through the Strait of Hormuz, one of the world’s most critical energy transit routes. The situation has also forced Qatar to shut down its LNG production facilities and Saudi Arabia to close its largest oil refinery. Analysts widely see Putin’s remarks as an attempt to pressure European buyers. Russian pipeline gas exports to Europe have already dropped significantly—from about 40% earlier to just 6% last year.

Russia offers more oil to India as Middle East crisis disrupts supplies

He also noted that the current market conditions could lead to buyers paying a premium for gas supplies. According to Putin, if such high-paying buyers emerge, some traditional suppliers—including companies from the United States—might shift away from the European market to more profitable destinations.Meanwhile, a report by Reuters said Russia is willing to redirect ships carrying Russian crude oil to India to compensate for supply disruptions caused by the Middle East crisis. About 9.5 million barrels of Russian crude currently on vessels near Indian waters could reach the country within weeks, the report cited an industry source as saying.

India is also seeking alternative supply sources as its crude reserves can cover only about 25 days of demand. Nearly 40% of the country’s crude imports pass through the Strait of Hormuz, which makes India particularly vulnerable to regional disruptions. The report added that Moscow is ready to meet up to 40% of India’s crude oil demand and may also supply liquefied natural gas after Qatar—one of India’s key LNG suppliers—halted production earlier this week.

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