Russian President Vladimir Putin seems confident that pipeline flows of natural gas to Europe could be stepped up if a US-brokered deal to end the war in Ukraine is agreed — raising questions about whether the continent is willing to reverse course and revive that relationship.
“If, say, the US and Russia agree on cooperation in the energy sector, then a gas pipeline for Europe could be ensured,” Putin said at a briefing in Moscow on March 13. “And this will benefit Europe, as it will receive cheap Russian gas.”
But while some traders are speculating that Russian supply will increase, many expect limited volumes to return, if any. The European Union is working on plans, albeit delayed, to end its dependence on Russian energy by 2027.
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