Putin Considers Breaking Up with Europe Over More Profitable Gas Dates
KEY POINTS
- â˘On Wednesday, Putin suggested Russia might abandon the European gas market for more profitable buyers amid soaring energy prices.
- â˘Iranian strikes near the Strait of Hormuz and production halts at Qatarâs LNG plant tightened global gas supplies and increased market competition.
- â˘The US issued a 30-day waiver for Indian purchases of stranded Russian oil, while Trump proposed naval escort for tankers in the Gulf.
On a gleaming Wednesday state TV stage, President Vladimir Putin played hard to get, flirting with LNG markets outside Europe amid surging gas prices sparked by US-Israeli strikes on Iran. In a move doomed to swing the energy dating scene, he hinted Russia might ghost Europe to woo new, plus-sized buyers who bid with oil-soaked wallets. Meanwhile, Qatar hit 'pause' on the world's largest LNG export plant after Iranian attacks and ships dodged bullets in the Strait of Hormuzâglobal energyâs very own shipping lane deathmatch. Europeâs natural gas futures skyrocketed by about 50%, Japan and Korea threw their hats into the frantic bidding ring, and Russia grinned, savoring marginal supplier leverage without firing a shot. Treasury Secretary Scott Bessent attempted damage control with a 30-day waiver allowing Indian refiners to flirt with Russian oil stranded at sea, while Trump offered naval tanker escorts, basically an energy version of a chaperone in yacht parties gone wrong. Andrei Covatariu from the Atlantic Council chimed in, noting Russia only has to be 'marginal' to absolutely monetize chaos. Geopolitics and gas have become the worldâs messiest, most expensive soap opera.
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(1 of 3)Putin's gas breakup with Europe is about profits, not feelings, as Qatar cries, ships get shot at, and global prices levitate like bad Tinder matches.
Russia treating global gas markets like a dating app: swipe left on Europe, swipe right on whoever pays the most.
Qatar paused production because Iran threw a tantrum â meanwhile, Europeâs gas prices escalated faster than my panic during tax season.
Source: Businessinsider | Published: 3/6/2026 | Author: Huileng Tan
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