Why Energy Prices Have Increased: Putin Responds

Russian President Vladimir Putin has answered journalists' questions regarding the results of his visit to Iran. The information was reported by RIA Novosti.

According to Putin, energy prices have risen due to the politics of the West. He stated, “Investments in traditional energy capital have decreased because of previously adopted political decisions. Banks do not provide financing, insurance companies do not offer coverage, local authorities do not allocate land for new production, and pipeline and other transportation infrastructure is underdeveloped. This is the outcome of the politics of the previous decade,” said the Russian president.

He added that in the field of non-traditional relations, they are major experts, noting that in the energy sector, they have decided to rely on unconventional sources of energy such as solar and wind power.