economy
March 28, 2026
Putin envoy Kirill Dmitriev warns EU and UK of looming energy shock and deindustrialization
Kremlin envoy Kirill Dmitriev says the EU and UK are unprepared for the most severe energy crisis in history, after rejecting Russian oil and gas
TL;DR
- Russia warns of the most severe energy crisis in history, stating the EU and UK are unprepared.
- Envoy Kirill Dmitriev blames European leaders for rejecting Russian oil and gas, predicting negative consequences.
- The crisis is exacerbated by volatility in global energy markets due to escalating Middle East conflicts.
- Dmitriev forecasts deindustrialization for the EU and major challenges for the UK.
- He suggests Western governments will eventually need to re-engage with Russian energy supplies.
- European gas prices have risen significantly, and Brent crude has exceeded $110 per barrel.
- The EU continues its plan to phase out Russian fossil fuels by 2027 but has temporarily halted plans for a full Russian oil ban.
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