The Prime Minister of the United Kingdom Boris Johnson today urged Western countries to put an end to their “addiction” to Russian hydrocarbons, in an article published in the Daily Telegraph.
Johnson says Western leaders made a “terrible mistake” in allowing Russian President Vladimir Putin to “save” it after the annexation of Crimea in 2014, while at the same time relying more on Russian gas and oil.
“When he finally unleashed the ruthless war in Ukraine, he knew that people would find it difficult to punish him. He knew he had created an addiction,” the Conservative prime minister wrote. “People can not succumb to this constant blackmail,” he said, calling for an end to the addiction.
The United States and Britain have decided to cut off gas and oil imports from Russia. The European Union, which is much more dependent on them, is organizing to cut gas imports from Moscow by two-thirds this year.
Stating that Putin’s Russia “produces virtually nothing else” that “the rest of the world wants to buy,” Johnson said that “if the world wants to end its dependence on Russian oil and gas, we can to deprive him of his money, to destroy his strategy “.
In this context, Johnson spoke to reporters about his visit this week to Saudi Arabia and the United Arab Emirates. “It is obvious, he said, that the Russian attack on Ukraine contributed to the explosion in the price of hydrocarbons, the price of oil.”
“If we want to resist Putin’s intimidation, if we want to avoid blackmail, as has unfortunately happened in so many Western countries, we must turn our backs on Russian hydrocarbons,” he said. That requires “talking to other producers around the world,” he continued, “and building a stronger, larger coalition.”
Johnson plans to unveil his government’s energy security strategy in the coming weeks, which includes investing in renewable energy sources and extracting hydrocarbons from the North Sea to reduce the UK’s energy dependence.
SOURCE: ΑΠΕ-ΜΠΕ
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
