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Putin Invites Europe Back to Russian Energy Deals Free of “Political Considerations”
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Russia is ready to work with European buyers of hydrocarbons if they can guarantee long-term cooperation free of political considerations, Interfax reported on March 9, citing the Russian leader, Vladimir Putin, who stated that Moscow had “never refused” such cooperation and remained open to it.
Speaking at a meeting on the global oil and gas market, russian leader Vladimir Putin stated that Moscow had never refused to work with European companies and remained open to renewed energy cooperation, which largely stalled after Russia launched its full-scale invasion of Ukraine in 2022.
He framed that possibility as contingent on European buyers deciding to restore such ties.
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“We are ready to work with Europeans,” Putin stated.
He added that Russia needed “some signals from them” that they were also prepared to work together and could ensure “sustainability and stability.”
“If European companies, European buyers, suddenly decide to reorient themselves and ensure us long-term sustainable joint work, free of political considerations, please. We have never refused. We are ready to work with Europeans,” Putin stated.
The report noted that since Russia’s full-scale invasion of Ukraine, the European Union has pursued energy independence from Moscow under the REPowerEU plan.
Hungary and Slovakia remain the only EU states pushing to continue buying cheaper Russian energy despite the bloc’s broader line.
Putin’s remarks came as Brent crude rose to $119 per barrel on Monday morning, its highest level since Russia launched its full-scale invasion in 2022.
The spike reflected fears of a sudden supply shock from the Middle East.
Brent surged after the US-Israeli war with Iran disrupted shipping through the Strait of Hormuz and prompted some Gulf producers to cut output.
Prices later retreated below $100 after reports that the Group of Seven was considering releasing strategic oil reserves. The move was seen as a way to steady markets and limit the effect of higher energy costs.
At the same time, Slovakia’s gas importer SPP reported negotiating with Russia’s Gazprom to raise gas deliveries for 2026 and 2027, even as the EU prepares broader restrictions aimed at ending reliance on Russian energy.
SPP said it amended its long-term contract to align with EU rules and keep importing Russian gas, calling it the most price-competitive option as regional supply risks and price volatility increased.
Sources told Reuters the talks could lift Russian supplies toward covering most of Slovakia’s needs through 2027, subject to EU exemptions, with imports routed via Turkey after transit through Ukraine ended in December 2024.
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