Russia to Consider Halting Gas Exports to Europe Amid Rising Energy Prices
Russia’s government is preparing to discuss the possibility of halting gas exports to Europe following a directive from President Vladimir Putin, according to Deputy Prime Minister Alexander Novak.
Novak said on Thursday that a meeting would be held soon with energy companies to review the current market situation and explore alternative routes for Russian energy supplies.
“We will meet soon, as instructed by the President, to discuss the current situation with energy companies and possible transport routes for our energy supplies,” Novak told reporters, adding that the talks would also examine how Russia could deploy its energy resources more profitably.
The discussion follows comments by Putin on Wednesday suggesting Russia could cut gas supplies to Europe “right now” amid a surge in global energy prices linked to tensions surrounding Iran. He said the idea was under consideration but stressed that no final decision had been taken.
The Russian leader also connected the potential move to plans by the European Union to gradually phase out purchases of Russian gas and liquefied natural gas (LNG).
Russian gas exports to Europe have declined sharply since the start of the Russian invasion of Ukraine, as Western sanctions and political tensions reshaped energy trade between Moscow and European countries.
Despite the decline, Russia remains a major LNG supplier to the EU and continues to deliver gas through the TurkStream pipeline, which transports gas across the Black Sea to countries including Hungary, Slovakia and Serbia.
According to data from Eurostat, Russia’s share of EU pipeline gas imports fell from about 40 per cent in 2021 to around 6 per cent in 2025. When both pipeline gas and LNG are combined, Russia accounted for roughly 13 per cent of the bloc’s total gas imports in 2025.
Energy markets have also been shaken by escalating conflict in the Middle East, particularly after the Strait of Hormuz shipping route was disrupted following US and Israeli strikes on Iran and Tehran’s retaliatory attacks on Gulf neighbours. The tensions have driven up oil and gas prices globally.
Speaking on Russian state television, Putin suggested that redirecting gas supplies to emerging markets might be more profitable for Russia than continuing exports to Europe.
“Now other markets are opening up. And perhaps it would be more profitable for us to stop supplying the European market right now,” he said, describing the remarks as preliminary thoughts rather than a final policy decision.
He added that the government would study the issue further in cooperation with Russian energy companies.
