Dmitriev: high oil prices will expose the EU’s mistakes

9 March 2026, 16:35

High oil prices will expose the strategic mistakes made in trying to restrict Russian energy, said Kirill Dmitriev, the Russian president’s special envoy for investment and economic cooperation with foreign countries.

“Now, while most European officials still fail to grasp the consequences, it is becoming clear that Russian energy is vital for survival, and the strategic miscalculations aimed at restricting it will be fully exposed,” Dmitriev stated.

He further emphasized that the oil problem is “no longer limited to the Strait of Hormuz.” According to him, the energy crisis will prove “much deeper and longer-lasting” due to the continuing attacks on oil and gas infrastructure in the Middle East and declining production.

“Bingo — welcome to the era of 100 oil,” Dmitriev added.

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