Deputy FM: EU energy problems to worsen without Russian supplies

The European Union’s decision to phase out Russian energy supplies could exacerbate its existing economic and energy challenges, particularly against the backdrop of the ongoing crisis in the Middle East, Russian Deputy Foreign Minister Alexander Grushko said in an interview with RIA Novosti.

“Given the EU’s course toward abandoning trade, economic, and energy cooperation with our country, the current Middle East crisis is highly likely to exacerbate the European Union’s existing structural problems in the economy and energy sectors, and increase dependence on its main energy supplier — the United States,” Grushko said.

He stressed that rising global energy prices remain one of the key challenges facing Europe, along with the broader economic consequences linked to those increases.

Citing European Commission data, Grushko noted that gas prices in Europe have risen by 70%, while oil prices have increased by 60% amid the escalation of tensions in the Middle East. According to his estimates, the European Union has already incurred approximately €14 billion in additional costs for fossil fuel imports.

“At current price levels, replenishing volumes of ‘blue fuel’ ahead of the next heating season could place a serious burden on EU countries’ budgets,” he added.

Grushko also drew attention to the surge in refined fuel prices. According to data from the pricing agency Argus, the cost of diesel and aviation fuel in Europe has increased significantly following the escalation of the conflict in Iran, reaching record highs.

He further stated that instability in global energy markets has intensified due to restrictions on shipping through the Strait of Hormuz and strikes targeting energy infrastructure in the region.

Against this backdrop, Grushko said discussions have intensified within Europe regarding a possible revision of policies on purchasing Russian energy resources, despite earlier commitments by the EU to fully phase out such supplies in the coming years.

By Tamilla Hasanova