Russian President Vladimir Putin

Vladimir Putin - Russian politician.

Born on October 7, 1952 in Leningrad, now St. Petersburg, Prez said that Europe would be forced to print money because of the growing energy crisis.

He spoke during the plenary session of the "Russian Energy Week" forum, which opened today in Moscow, RIA Novosti reported.

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"It is clear how the problems with prices will be solved if they are high. We went through this with regard to other groups of products. They just print money, that's it," Vladimir Putin said

Vladimir Putin - Russian politician.

Born on October 7, 1952 in Leningrad, now St. Petersburg. Pres.

According to him, in the last year the money supply in the European Union has grown by about a trillion euros, and because of the tripled price of energy resources, "inflation is knocking on the door".

Putin: We are ready to divert additional volumes of gas to Europe through Turkey

Putin also emphasized that the policy of the West itself is to blame for the increase in energy prices.

Russia is ready to supply energy resources to Europe as soon as European countries want.

"The ball is in the European Union's court. If they want, let them just turn on the faucet and that's it," Vladimir Putin added.

Vladimir Putin - Russian politician.

Born on October 7, 1952 in Leningrad, now St. Petersburg. Pres.

He said that Russia does not limit anyone in anything, including that it is ready to supply additional quantities in the autumn-winter period.

He also pointed out that the European countries themselves are exacerbating the situation by imposing restrictions on oil prices.

Putin noted that the West should not refuse cooperation with Russia.

"We sell what they want to buy at market prices. We are ready to buy from you, but you do not sell. In this we fundamentally differ from Western countries, which cynically refused to fulfill already concluded contracts in the financial and technological spheres, in the supply and equipment maintenance," Putin emphasized, Bulgaria ON AIR reported.

According to him, the spot gas pricing mechanism will bring European countries more than 300 billion dollars in losses.

Russian expert estimates show that in 2022 the spot gas pricing mechanism will bring Europe losses of more than 300 billion euros, which is about 2% of the GDP of the Eurozone.

According to Putin, the losses could have been avoided if Europe had opted for long-term oil-linked contracts: "The difference between the spot market and the prices for long-term contracts is three to four times."

Russian invasion of Ukraine

Vladimir Putin

energy crisis

printing money