Russia Weighs Gas Supply Halt to Europe Amid Rising Tensions

The Russian government is considering stopping gas exports to Europe due to rising tensions and the EU's intention to ban Russian gas. Despite declines in exports since 2022, Russia remains a significant supplier. Deputy PM Alexander Novak plans discussions with energy firms about optimizing resource deployment.

The Russian government is contemplating a potential halt to gas exports to Europe, as announced by Deputy Prime Minister Alexander Novak on Thursday. This consideration follows President Vladimir Putin's statement, amid escalating energy prices driven by the Iran crisis.

The possible decision is linked to the European Union's aim to ban Russian gas purchases. Novak mentioned an upcoming meeting, as directed by the President, with energy firms to discuss the situation and explore profitable energy transport routes.

Russian gas exports to Europe have significantly decreased since 2022 due to Ukraine-related sanctions. Yet, Russia remains the EU's second-largest LNG supplier, with gas sales continuing through the TurkStream pipeline, supplying countries like Hungary, Slovakia, and Serbia, accounting for over 12% of European supply.

(With inputs from agencies.)