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Putin: Energy Crisis Has Arrived

Published March 9, 2026, 17:08
Putin: Energy Crisis Has Arrived

Russian President Vladimir Putin stated that the war in the Middle East has caused a global energy crisis and warned of a potential disruption in oil production due to geopolitical developments in the Strait of Hormuz. Russia, as the second-largest oil exporter and holder of the largest natural gas reserves, expresses its readiness to cooperate again with European customers, provided there are positive signals from their side. Putin called on Russian companies to take advantage of the current situation in the Middle East, but noted that the increase in prices may be temporary.