Western Nations cannot cut off Russia's oil & Gas supply..?

Sowmiya Sriram
Western Nations cannot cut off Russia's oil & Gas supply..?

Vladimir Putin said No one knows when or what will happen. So Russian trade will certainly not be bad enough to close Russia's oil wells. Despite Western sanctions and efforts to divert oil imports from moscow, Russian President Vladimir Putin has stressed that Western nations will not be able to completely cut off Russia's oil and gas supplies for many years.
Russian President Vladimir Putin said this on Thursday. The Russian president made the remarks after attending an exhibition in moscow on the occasion of the 350th birthday of Russian king Peter the Great. No one knows when or what will happen. So the BBC quoted saying that Russian trade would certainly not be bad enough to close Russia's oil wells.
Russia's President Vladimir Putin's comments came just days after a US official acknowledged that Russia's profits on energy could be higher now than they were before the war. Earlier, the united states and the european union agreed to ban Russian oil imports. And imposed sanctions to punish russia for its occupation of Ukraine.
 While those actions by the united states and the european union have had a detrimental effect on the global trade in Russian fuels, they have helped to raise global oil and gas prices. The european union currently imports 40 percent of its gas from Russia. The federation has promised to reduce Russia's oil dependence by 90 percent by the end of 2022.
However, so far no pledge on gas has been made on behalf of the european Union. Putin noted that the crisis in the supply of oil and gas has led to a rise in global oil and gas prices and that Russian companies' profits may have risen in recent months. Russian President Vladimir Putin told a group of young entrepreneurs that "the volume of oil in the world market is declining and prices are rising." "Profits in Russian companies are increasing," he added.
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