Putin: "Russia Is Not Responsible"... International Energy Crisis Blamed on Western Policy Failures

Putin: "Financial Support for Conventional Energy Disappearing"
"Russia Weaponizing Energy Resources" - Claim Contrasting Western Diagnosis

On the 27th (local time), Vladimir Putin, President of Russia, is speaking at the international Russian experts meeting 'Valdai Club' held in Moscow. Photo by AFP Yonhap News

[Asia Economy Culture Young Intern Reporter] Russian President Vladimir Putin recently claimed that the international energy crisis is due to the West's policy failures in the energy sector. He criticized the reduction of financial support for conventional energy sources such as oil and gas, saying it caused energy shortages.

According to TASS news agency, President Putin made these remarks on the 27th (local time) during the 'Valdai Club,' an international Russian experts meeting held in Moscow, in response to questions from attendees.

Putin pointed out, "The institutional measures by the West to restrict the development of conventional energy resources have caused this serious crisis. Financial support has disappeared, banks are not providing loans, and transportation means for oil and gas are not being produced." He added, "This has been going on for several years, and the severe reduction in financial support for this sector has caused energy shortages, which is the essence of the problem."

This claim differs from the Western position that the energy crisis mainly stems from Russia weaponizing energy resources by significantly reducing gas supplies to European countries amid the Ukraine situation, and Western sanctions limiting Russian crude oil exports.

Russia also stated that it has no relation to this issue. President Putin expressed support for practical 'carbon neutrality' policies through various measures such as reducing carbon dioxide (CO₂) emissions and developing renewable energy, but opposed the reduction of financial support for traditional energy sources like oil and gas.

He emphasized, "The transition to carbon neutrality does not conflict with Russia's interests, and Russia also has considerable competitiveness in this field. However, during the transition period, gas remains the best energy source." He criticized Western policies by saying, "How can you reduce and hinder investments in traditional energy for several years without preparing everything related to green energy?" and reiterated, "This is precisely the main cause of today's energy crisis."

Meanwhile, President Putin said he might personally attend the G20 summit to be held in Bali, Indonesia, on November 15-16. He expressed gratitude to Indonesia, the G20 host country, for inviting Russia, stating, "Russia will definitely send a high-level representative to this meeting. I might go myself. I am still considering it."

This content was produced with the assistance of AI translation services.