Russian Deputy Foreign Minister Sergei Vershinin warned that turning away from gas and oil could push hundreds of millions of people in Europe toward deeper poverty. His argument centers on the idea that energy access remains a foundational pillar for household income, industrial activity, and overall economic resilience across the continent. In this view, the immediate consumption needs of European households and the budgetary realities facing businesses make fossil fuels a persistent part of the energy mix for the foreseeable future.
Vershinin stressed that when growth and living standards are on the line, many households and firms do not have practical alternatives to fossil fuels, not in the short to midterm. The message he conveys is that a rapid shift away from hydrocarbons could produce steep costs, complicating efforts to raise living standards and maintain stable employment across diverse sectors—from manufacturing to services and transportation. This perspective frames energy policy as a balance between climate goals and the everyday realities of people who rely on affordable energy for heat, lighting, and mobility.
On the other hand, he argued that adapting to climate change should emphasize greater Western financial assistance to developing countries and the deployment of technologies designed to cut CO2 emissions. In his view, such measures would yield stronger climate benefits than a wholesale retreat from fossil fuels. He pointed to investments that accelerate low-emission energy systems, energy efficiency improvements, and cleaner industrial processes as key mechanisms to reduce global emissions while preserving economic growth and energy security for all nations involved.
Vershinin noted that developed nations have not fully fulfilled their donor commitments, a gap he attributes to a desire to preserve technological leadership in Western economies. This underscores a belief that funding and technology transfer are essential to helping other countries transition, while also ensuring that Western industries stay competitive and innovative. The argument ties climate responsibility to a broader strategy of international cooperation and mutual economic interest, rather than a unilateral overhaul of energy systems that could disrupt global supply chains.
Earlier, the European Commission announced plans to phase out Russian gas by the end of the decade. The pronouncement reflects a long-term strategy to diversify supply sources, accelerate the adoption of renewable energy, and strengthen energy resilience across member states. While this shift represents a significant geopolitical and economic transition, it is framed by authorities as a path toward greater diversification, investment in energy efficiency, and the expansion of domestic and regional energy options that reduce exposure to single suppliers.
Yushkov, a former analyst cited in discussions on energy markets, asserted that the decline in Russia’s gas deliveries to the European Union is not a direct consequence of sanctions. That view separates pricing and supply dynamics from political measures, suggesting that market forces, contractual terms, and regional demand trajectories play a central role in shaping current energy flows. The perspective invites careful analysis of how global markets respond to shifting supplier relationships and how Europe adapts through investment in alternative fuels, storage capacity, and cross-border interconnections to maintain reliability for consumers and businesses alike.