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EU’s ban on Russian gas is hurting European economy: Moscow

Russia’s MFA said in an interview that Europe’s self-imposed ban on Russian gas will only hurt the ones imposing it.

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Dmitry Birichevsky, director of the Russian Foreign Ministry’s Department of Economic Cooperation (photo by Russia's Ministry of Foreign Affairs)

A Russian top diplomat with the Ministry of Foreign Affairs says the EU will not benefit from imposing sanctions on Russia, adding that Europe’s economy is taking a hit from the bans.

Europe has faced significant setbacks since imposing sanctions on Russian gas, Dmitry Birichevsky, director of the Russian Foreign Ministry’s Department of Economic Cooperation, said in an interview with TASS published on Saturday.

Birichevsky said that the self-imposed ban was unsustainable and would ultimately harm the countries enforcing it. “Such self-imposed bans and other restrictions directly hurt those who impose them,” he said.

“European economies and end users, both industry and households, now face sharply higher costs, while businesses are shutting down or moving to other jurisdictions. As Russian President Vladimir Putin said at the 8th summit of the Gas Exporting Countries Forum in Moscow, ‘Whoever digs a pit will fall into it,’” he added.

The diplomat also said that the ban on imports of Russian pipeline gas and liquefied natural gas (LNG) was part of the European Union’s policy to isolate Russia economically, adding that Europe initially brought an end to a “longstanding and mutually beneficial energy ties” with Russia that dated back to the Soviet era.

The EU has imposed several rounds of energy sanctions on Russia since the start of the war in Ukraine in February 2022.

These measures include a ban on seaborne imports of Russian crude oil and refined petroleum products, restrictions on coal imports, and a phased ban on Russian natural gas imports.

The EU said it remains committed to implementing a ban on Russian natural gas and LNG from January 1, 2027.

Meanwhile, according to the International Energy Agency (IEA), Europe’s gas stocks at the beginning of the heating season were at their lowest level since 2013.

EU underground gas storage facilities were around 74 percent full at the beginning of November, according to Gas Infrastructure Europe (GIE). The figure declined to 72.65 percent on November 8.