Russia’s President Vladimir Putin speaks at the Valdai Discussion Club annual international conference in Sochi, Russia
| Photo Credit:
MIKHAIL METZEL VIA REUTERS
President Vladimir Putin said on Thursday that the global economy would suffer without Russian oil, warning that prices would jump to over $100 per barrel if its supplies were cut off.
US President Donald Trump has urged Europe, India and China to stop buying Russian oil in order to reduce Moscow’s ability to fund its war in Ukraine.
Published on October 3, 2025