Peskov: EU would harm itself by shutting down Russian LNG

The Kremlin argues that the European Union's plan to completely shut off Russian liquefied natural gas is a blow to Europe's own economy rather than a strategic victory. Spokesman Dmitry Peskov, following remarks by European Commission President Ursula von der Leyen, said Moscow could do without the European market and would redirect its LNG, oil and petroleum products to where they are in greater demand.

In his view, Brussels is harming itself by doing this and the costs will ultimately be borne mainly by European consumers. At the same time, the available data show that the EU's dependence on Russian gas has already fallen significantly. Whereas before the war in Ukraine more than 40 per cent of gas imports came from Russia, last year it was only 13 per cent, including both LNG and pipeline supplies.

The EU wants to stop importing Russian LNG by the end of 2026 and pipeline gas by autumn 2027. However, Russian President Vladimir Putin has already hinted that Russia could cut off exports even earlier.

(reuters, pir)