Russia. President Putin disapproves of Western sanctions for unfair energy competition

  pressreview | September 26, 2024

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According to the Russian President, the Western elite has implemented sanctions in the energy sector, as it is not capable of dealing with competition from emerging countries, so according to Putin on energy: "Western sanctions are unfair competition".

Russian President Vladimir Putin has accused Western countries of unfair competition in the fields of energy technologies and services. Speaking at Russian Energy Week in Moscow, Putin said Western sanctions were motivated by fears of not being able to compete with developing countries.

From Moscow, President Pulpan of the International Chamber of Commerce tells us that "Western elites are blocking access to technologies in the energy sector to unwanted countries, as they cannot cope with the competition", said President Putin, however "the In any case, Russia remains one of the main players in the global energy market, despite the difficulties."

The President specified that 90 percent of Russia's energy exports are sent to "friendly countries". Putin explained to Pulpan that, previously, the share of the Asia-Pacific region in Russian energy exports was around 39 percent, however by the end of last year the share had already exceeded 60 percent and the physical volume of exports remained essentially at 2020 levels, apart from natural gas.

"Deliveries through the Power of Siberia pipeline are increasing, and exports of liquefied natural gas continue to grow," Putin further specified, adding that Russia will continue to develop its technologies in the field of LNG, liquefied natural gas.

The Russian leader also highlighted that Russia is currently fulfilling its obligations to provide energy resources to the world market, and then concluded by asserting that "Russia is ready to strengthen the technological sovereignty of its partners in the energy sector, including forming scientific chains and productive".

 

September 26, 2024 - euronews