Putin Warns Against Attempts to Exclude Russia From Global Natural Gas Market

Oct. 27, 2026 Vladimir Putin speaks at the Gas Exporting Countries Forum on Oct. 27, 2026. Pavel Bednyakov / Pool via REUTERS President Vladimir Putin warned Tuesday that efforts in the West to isolate Russia from the global natural gas market will hurt European consumers, as he confirmed potential joint energy projects with the United States in the Arctic. “Any attempts to exclude Russia from the global gas market or restrain the development of our industry carry serious consequences,” Putin said at the Gas Exporting Countries Forum in Moscow. “First and foremost, these are skyrocketing costs for foreign end consumers of gas: businesses, companies and households,” he said. Putin noted that Europeans are already struggling with high energy costs as the EU moves toward a phase-out of Russian natural gas imports by fall of next year in a bid to deprive the Kremlin of funding for its war against Ukraine. “We have a saying in Russia: ‘Don’t dig a hole for someone else or you’ll fall into it yourself.’ This is precisely what happened in EU countries,” the president added. Russia’s share of EU gas imports plummeted from 45% in 2021 to 19% by 2025, though seaborne LNG shipments partially offset pipeline losses. On Tuesday, Russian Deputy Prime Minister Alexander Novak said Moscow has supplied $320.7 billion in energy resources to the EU since 2022, including $21.3 billion in the first nine months of 2026. At the forum in Moscow, Putin also revealed that Russia was exploring potential energy cooperation with U.S. companies in the Arctic, confirming recent media reporting on his latest talks with White House special envoy Steve Witkoff. “Until recently, European partners worked alongside us in our fields, and Chinese partners are still working there. Now, we’re exploring the possibility of joint work with American partners,” he said. Read more about: Gas , Putin , Europe , Energy Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Russia Ready to Supply Oil and Gas to Europe If It Asks, Putin Says The Kremlin leader said energy cooperation would need to be "long-term" and not be an attempt to pressure Moscow. 1 Min read Putin and Xi to Discuss Stalled Power of Siberia 2 Pipeline in Moscow – Bloomberg Despite the revived talks, a final agreement is not expected to be signed during Xi’s visit, sources told Bloomberg. 2 Min read Russia Resumes Critical Gas Supplies to Europe via Nord Stream The German government had feared that Moscow would not reopen the pipeline after the scheduled work. Putin Warns EU Nations Need Ruble Accounts to Get Gas He threatened "existing contracts being stopped" if payments are not made.