EU diplomat Josep Borrell asserts Russia won't halt supply of gas & oil to Europe

As Russia continues to attack significant cities of Ukraine, further isolating itself from the world, as retaliatory measures, many global powers imposed stringent economic sanctions on the Kremlin, in a bid to target its economy. Amid the ravaging war, Europen Union High Representative of Foreign Affairs, Josep Borell, refuted the fact that the Russian President will cut off oil and gas supplies to blackmail his European counterparts, soliciting more rigid sanctions, according to Euractiv. 

During his address at a forum in Doha, Qatar, Borell noted that he discussed the ongoing conflict in Ukraine, the refugee influx and subsequent crisis and climate change. Furthermore, Borell added that he did not think resorting to blackmail would work as the Kremlin itself are to sell its energy resources, which count up to a significant portion of the revenue. In the meantime, he also noted that Russian President Putin's actions have become very much uncertain now.

 "I can't see what's in Putin's mind, and I don't know what he will do. I never believed that he was really preparing an invasion, and, moreover, will destroy Ukraine the way he does," Euractiv quoted Borell as saying. Russia “needs to sell its oil and gas,”  he further added during his address at the Doha Forum, on Sunday wherein he met with leaders and political strategists gathered in the Qatari capital to analyze a series of issues of major global concern, including the war in Ukraine, the refugee crisis and the climate crisis.

What did Borrell convey during interview?

EU's diplomat further emphasized that Moscow makes “a considerable amount of financial resources it needs” from the sale of fossil fuels, “because the sanctions have blocked the assets that the Russian Central Bank has in American, European, and Japanese banks”. Although he conceded that Moscow still “has many (other assets) in China and in other countries where we cannot act," He further added that" we have blocked a very important part of their foreign exchange reserves,” reported Euractiv.

Borrell detailed that Europe finds itself in a difficult situation while it wanted to put off on the imports of gas and oil from Russia. He raised this statement in order to hit it even harder in response to the war in Ukraine, while its economic sanctions have already caused an abrupt rise in energy prices that hit European consumers hard. 

Meanwhile, EU nations are currently trying to persuade other oil and gas-rich countries to ramp up their production, which was the key agenda of the diplomats' visit to the region, following the Doha Forum according to Euractive. Borrell stressed the requirement to maintain and intensify sanctions on Russia since Putin continued to squash the Ukrainian cities. “Since he cannot conquer them, he is bombing them, causing a huge number of civilian casualties,” he added.

Addressing the Forum, Borrell added, “We have not talked about red lines. We know what we have to do and we are doing it. We supply weaponry to Ukraine to defend itself, defensive weaponry, and we put sanctions on Russia to weaken it, especially the economy that revolves around Putin and the people who support him, the famous oligarchs and the leaders of this political system. And that’s what we are doing and that’s what we will continue to do,” reported Euractiv.

(Image: AP)