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Putin Threatens to Cut Gas Supplies to Europe Over Iran

Published March 5, 2026, 09:10
Putin Threatens to Cut Gas Supplies to Europe Over Iran

Russian President Vladimir Putin warned that Russia could halt gas supplies to Europe amid the crisis with Iran and the surge in energy prices. He linked this possibility to the European Union's plans to ban imports of Russian natural gas and liquefied natural gas (LNG), but clarified that no decision has been made yet. The statement comes at a time of increased uncertainty in energy markets, due to the attacks on Iran and retaliatory strikes in the region. Putin stated that oil prices are rising due to the “attack on Iran” and Western restrictions on Russian oil, while natural gas prices in Europe are rising due to increased demand and the closure of the Strait of Hormuz. He argued that it could be more beneficial for Russia to stop sales to the European market and turn to new markets, such as China. Putin stressed that this is not a decision, but a consideration, and that he will ask the government to examine the issue with Russian energy companies. Russia, possessing the largest natural gas reserves in the world, has lost much of its European market after the invasion of Ukraine in 2022. Russia has already turned to China, the world's largest energy consumer, to offset losses in the European market. Before the crisis, Russia covered about 40% of the EU's natural gas imports, but this percentage has decreased significantly to just 6% last year.