A large-scale energy crisis could force European countries to turn to supplies from Russia - TASS quoted Kirill Dmitriev, Special Envoy of the Russian President for Economic Cooperation and International Investment, Director General of the Russian Direct Investment Fund (RDIF) as saying.
This statement was made by him when commenting on the measures that the European Union (EU) is implementing to cope with rising energy prices, including tax cuts, subsidies for people, price ceilings and energy market reforms.
According to Mr. Kirill Dmitriev, these moves "will not be able to ease the biggest energy crisis ever". He believes that EU countries will ultimately still have to find ways to regain access to energy from Russia - something that the bloc has been trying to cut back on in the past.
EU countries will soon find ways to join the waiting line to buy Russian energy. This line is very long, and they will have to stand at the end," Mr. Dmitriev said.
This assessment is made in the context that Europe is still struggling with the energy problem, when supply from Russia is limited and the global market is volatile. Switching to alternative sources such as LNG or renewable energy helps reduce dependence, but comes with high costs and incomplete infrastructure.
Previously, chief economist Christophe Barraud of market research and consulting firm Market Securities listed a series of measures that EU countries are applying to cool down energy prices. However, this transition process is facing many challenges, especially when energy demand is still high and prices fluctuate unpredictably. According to Russia, these solutions are only short-term and do not solve the root of the problem - the lack of stable supply at a reasonable cost.
Observers believe that the statement from Moscow is both warning and political pressure, in the context that Russia is still one of the largest oil and gas suppliers in the world.
If the scenario proposed by Mr. Kirill Dmitriev becomes a reality, this will be a notable turning point in Europe's energy policy - from reducing dependence to being forced to "turn around" due to economic pressure.
