Putin Says Middle East Stability Undermined, Impacting Global Economy

K-LinePoet · 2026-03-15T10:52:36+00:00

Putin emphasized at the conference that oil transportation through the Strait of Hormuz could be disrupted, calling for proactively exploring new markets and cooperating with Europe, provided that Europe clearly demonstrates its willingness for stable cooperation. Middle East conflicts are affecting the international economy, and oil and gas prices may experience temporary increases.

K-LinePoet

2026-03-15 10:52:36

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On March 9, Russian President Vladimir Putin held a meeting at the Kremlin to discuss energy transportation security, market trends, and Russia’s strategic adjustments. Putin stated that oil production relying on transportation through the Strait of Hormuz may soon be completely halted—Russia has repeatedly warned that attempts to destabilize the Middle East will lead to rising oil and gas prices. The supply disruptions caused by Middle East conflicts are impacting the entire international economic system. However, Putin also pointed out that the price increases may be temporary. He said Russia should proactively adjust its direction, target new markets that require increased oil and gas supplies, and establish a foothold, rather than waiting for Europe to “demonstratively shut the door on energy cooperation with Russia.” Putin also emphasized that Russia is willing to cooperate with European countries on oil and gas supplies, but the EU needs to send clear signals indicating a willingness to provide stability for such cooperation. (CCTV International News)

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