Russian President Vladimir Putin stated that Russia is prepared to supply Europe with oil and natural gas, provided European countries show interest in long-term cooperation without political pressure on Russia. "If European companies and buyers decide to reorient themselves and provide us stable cooperation without political pressure, go ahead. We have never refused. We are ready to cooperate with Europeans, but we need signals that they want this," Putin stated at a televised meeting.

The statement comes at a moment when the global oil market faces a sharp price increase. Crude oil exceeded the $100 per barrel threshold for the first time since 2022, reaching nearly $120 before stabilizing. The cause is the conflict in Iran and the threat to free transit through the Strait of Hormuz, a key route for more than 20 percent of global oil supply.

Russia currently continues to supply oil to trusted Asian partners, while among European countries the exception is Hungary and Slovakia, which receive Russian oil via the Druzhba pipeline, though transit through Ukraine is suspended. The EU imposed a ban on imports of seaborne Russian oil in 2022 following the invasion of Ukraine.

In parallel, the American administration is also considering partial easing of sanctions on Russian oil in order to stabilize global energy prices. If both moves – Russia's offer and the American easing – materialize simultaneously, it would signal a significant change in the global energy map, with far-reaching consequences for geopolitical relations between the West and Moscow.