Putin: Global energy architecture disrupted by Western actions; Russia continues to lead oil production
Russian President Vladimir Putin announced at the general meeting of the International Forum of Russian Energy Week, which began in Moscow today, Thursday, October14 that the global energy architecture has been artificially disrupted by Western actions.
He emphasized that this disruption is caused by sanctions policies and attempts to control energy markets.
In his speech, which is considered the central event of this annual conference, Putin referred to the restructuring of global energy supply routes and chains, saying: “A restructuring of the global energy market is taking place, and Russia has maintained its position as one of the leading oil producers despite unfair challenges.”
According to estimates, Russian oil production this year will reach 510 million tons, only 1% less than in 2024.
The Russian President also addressed the negative effects of Western policies on the European Union economy, noting that the consequences of distancing oneself from Russian energy are now affecting the European Union economy, especially Germany, which is known as the locomotive of Europe, and leading to a persistent recession.
He stressed the importance of oil market predictability for global economic stability, adding that Russia will continue to cooperate with BRICS and OPEC+ partners.
Russian Energy Week, with the participation of leaders and experts from different countries, focuses on topics such as sustainable energy development, new technologies, and international cooperation.
At the end of his speech, Putin introduced Russia as the only country active in building small nuclear power plants and emphasized the potential of Russian technology in this field.
This conference, which has been held since 2015, is being combined with an exhibition of energy equipment and technologies for the first time this year, and it is expected that important agreements in the field of investment will be signed by the end of the week.
