Putin urges Russian firms to capitalise on energy market turmoil

Russian President Vladimir Putin said Russian companies should “take advantage” of the current situation as the war disrupts global oil and energy markets.

Speaking at a meeting in the Kremlin, Putin said the US-Israeli war on Iran has triggered a worldwide energy crisis and warned that oil production relying on transport through the Strait of Hormuz could soon come to a halt.

He added that Russia would be ready to supply European buyers if they were willing to engage in “long-term work without politics”.

Putin also said Moscow would continue providing energy resources to what he called “reliable partners”.