US Efforts to Buy Oil from Iran and Venezuela Mocked by Putin

Russia’s president mocked US attempts to purchase oil from Iran and Venezuela. He said that sanctions against his country destabilize global markets and that Russia will find “ways to adapt.”

Vladimir Putin, Russia’s president, said on Thursday, March 19 (March 10) in a video meeting with members of his government cabinet that Western sanctions against his country destabilize global energy and food markets, and claimed that Russia will emerge from this crisis stronger than before.

Western countries have responded to Russia’s invasion of Ukraine with sweeping sanctions and want to make these sanctions more severe. The United States has banned imports of Russian oil and gas and has asked other countries to follow suit. Britain has also said it will end imports of Russian oil by the end of this year.

Moscow Finds Ways to Adapt

Putin downplayed the sanctions and said that Moscow would find ways to “adapt.” In his view, this policy harms the United States and Europe.

Putin emphasized that Moscow will continue to export oil and gas, including through Ukraine in the midst of the conflict, and “respects all of its commitments in the field of energy supply.” He blamed the West for rising energy prices and criticized it, and referring to price increases in Europe, said: “This is not our fault. This is the result of their miscalculations. There is no need to blame us.”

Putin also mocked US efforts to conclude oil deals with Iran and Venezuela, saying that they “are willing to make peace with Iran and immediately sign all documents.”

Russia’s president also warned that Western sanctions could increase food prices worldwide, as Russia is one of the world’s major producers of fertilizer.

He said: “If they continue to create problems for financing and logistics of delivering our goods (fertilizer), prices will rise and this affects the final product, namely food products.”

Anatolia News Agency announced on Thursday that Russia declared in a statement the export of more than 200 goods including vehicles and telecommunications parts, medical devices, electronic and agricultural goods banned until the end of the current year.

According to this statement, “exports of rail transport equipment, containers, turbines and machinery are banned and exports of monitors, projectors, consoles and panels have also been suspended.”

Since February 24 and Russia’s attack on Ukraine, gas and crude oil prices in European and global markets have risen rapidly and broken records on some days.

Leaders of European Union member states, who are now gathered in Versailles, have said they will not follow sanctions on Russian oil and gas because they have heavy consequences for their industries. Germany and Italy have the greatest dependence on Russian gas.

Putin’s Calm Appearance to Downplay Sanctions

When speaking about the difficulties created by sanctions, Putin adopted a calm demeanor and promised: “We will get through this period.” He called for the country to adapt to new conditions and acknowledged that “Russians may be worried about stopping supplies, but there is nothing that the Kremlin cannot solve.”

He said: “It is clear that at such times people’s demand for certain goods always increases, but we have no doubt that at the right time we will calmly resolve these problems and gradually people will return to normal routine.”