Russian Fuel, Energy Industry Working Very Well Despite All Sanctions - Putin

MOSCOW (Sputnik) - The Russian fuel and energy industry is working very well, is protected from external shocks and retains key positions in this sphere despite all sanctions, Russian President Vladimir Putin said on Monday.

"In general, in the current difficult conditions, Russia not only confirms its energy self-sufficiency, independence, and protection from external shocks, but also occupies key positions in the global energy sector. Without any exaggeration, we work confidently and self-sufficiently," the president stated at a meeting on the implementation of the Murmansk liquefied natural gas (LNG) project.

Russia's fuel and energy sector should contribute to protecting the interests of the country's economy, the needs of all consumers and tackling the issues of accessibility and prevention of serious price hikes which should be constantly monitored, Putin added.

Moreover, Russia is considering the possibility of accelerating the construction of the Far Eastern route, as well as the main Power of Siberia 2 gas pipeline, the president stated.

"Given the good prospects for expanding cooperation with friendly countries, we are considering the possibility of accelerating the construction of the Far Eastern route, as well as the Power of Siberia 2 gas pipeline," Putin stressed.

The Power of Siberia is a gas pipeline operated by Russian state-owned company Gazprom that is a part of the eastern gas route from Siberia to China.

The Power of Siberia 2 is a planned gas pipeline that is to contribute to Russian gas exports to China through Mongolia. The construction is expected to start in 2024, according to a statement by Mongolian Prime Minister Oyun-Erdene Luvsannamsrai on July 18, 2022.