2026-03-05 07:50:00
RUSSIAN GAS FOR EUROPE DOWN
BLOOMBERG - March 4, 2026 - Russian President Vladimir Putin said his country will consider ending most sales of natural gas to Europe in favor of more promising alternative markets.
The European Union plans a gradual ban on imports of both Russian pipeline gas and liquefied natural gas by late 2027. In this light, the Russian leader said he would instruct his government to assess redirecting supplies away from the bloc so that officials could work on the issue with companies.
“Other markets are opening now,” Putin said on state television on Wednesday. “Maybe it’s better for us to end supplies to the European market right now? To go to those markets that are opening now and get a foothold there.”
European gas prices spiked to a three-year high this week amid the widening conflict in the Middle East, though they pared some losses today after the US said it plans to protect navigation in the Strait of Hormuz.
By diverting most of its gas away from Europe and toward alternative markets, Russia would only be following example of some other suppliers, Putin said.
“Some clients emerged that are ready to buy that same natural gas at higher prices,” diverting volumes away from Europe, he said. “American companies, of course, will go somewhere where they are better paid.”
While flows of Russian fuel to Europe have dropped since the 2022 invasion of Ukraine, Russia continues to supply pipeline gas to a few European markets, including Serbia, Hungary and Slovakia. The country also delivers some fuel from the Novatek-led Yamal LNG plant.
Russian gas still accounted for an estimated 13% of EU imports in 2025, worth over €15 billion ($17.4 billion) annually, according to the Council of the EU.
The Russian leader, who met with Hungarian Foreign Minister Peter Szijjarto in the Kremlin Wednesday, stressed that his country still wanted to deliver energy to what he called reliable partners such as Slovakia and Hungary.
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Earlier:
2026, March, 3, 07:40:00
EUROPEAN GAS PRICES UP
Benchmark futures jumped as much as 25% — the biggest increase since August 2023 — after tanker traffic through the Strait of Hormuz largely halted over the weekend.
2026, February, 10, 13:25:00
RUSSIAN GAS TO EUROPE MAXIMUM
The 15.75 Bcm/year-capacity European string of TurkStream remains the sole pipeline route for Russian gas supplies to Europe after Ukraine halted Russian gas transit at the start of 2025, following the expiry of its five-year transit agreement with Moscow at the end of 2024.
2025, September, 24, 06:40:00
RUSSIA, EUROPE LNG SANCTIONS
These new measures follow the 18th sanctions package, unveiled in July 2025, which lowered the oil price cap on Russian crude to US$47.6/bbl,
2025, August, 7, 06:55:00
RUSSIAN ENERGY FOR EUROPE: $ BILLIONS
Imports of goods from Russia in the first quarter of 2025 totaled 8.74 billion euros ($10.11 billion), down from 30.58 billion euros four years earlier. Since January 2022, the EU has imported 297 billion euros' worth of Russian goods.
2025, August, 7, 06:45:00
RUSSIAN GAS FOR EUROPE: +37%
Calculations based on data from European gas transmission group Entsog showed that Russian gas exports via the TurkStream pipeline rose to 51.5 million cubic metres (mcm) per day in July from 37.6 mcm per day in June.
2025, August, 5, 06:45:00
EUROPEAN BAN OF RUSSIAN GAS: ROADBLOCK
While strengthening oversight over Russian gas imports, the Proposal’s transparency and traceability measures place a significant burden on importers and other stakeholders, while risking regulatory overreach – particularly if over-zealously implemented – thus potentially increasing costs and preventing legitimate gas imports from entering the EU.
2025, April, 8, 06:25:00
RUSSIAN GAS FOR SLOVAKIA
Gazprom began supplying gas to Slovakia again at the beginning of February, using volumes given up by Hungary on the TurkStream pipeline, SPP said last month. Volumes were due to double from April, but no amounts were given.
2025, March, 27, 06:55:00
RUSSIAN ENERGY FOR HUNGARY
Hungary has gone the other way, leveraging its ties to Moscow for economic gain. It carved out exemptions from under EU sanctions on Russian oil and doubled down on natural gas purchases from Russia. Hungary is also pressing on with the Russia-led expansion of its sole nuclear power plant.