The president has addressed participants at the Russian Energy Week forum in Moscow

Russian President Vladimir Putin speaks at the international forum 'Russian Energy Week' in Moscow, October 16, 2025. ©  Grigory Sysoev

Russian President Vladimir Putin addressed the plenary session of the international ‘Russian Energy Week’ (REW) forum in Moscow on Thursday.

The annual event is considered one of the main platforms for discussing key energy trends across Eurasia. Discussions at this year’s forum have focused on both short- and long-term priorities for the oil, coal, and power industries, as well as sharing experiences in strengthening technological sovereignty and advancing digital transformation in the energy and fuel sectors.

The 2025 forum is reported to have attracted some 5,000 participants from over 80 countries, including senior executives of energy majors, government officials, experts, and scholars.

16 October 2025

12:19 GMT

Putin has concluded his address by stating that Russia will continue its path towards ensuring its energy sovereignty, establishing itself as a global technology leader, and developing cooperation with other countries in order to create a stable and just model of global energy.

12:11 GMT

The president says European companies are now forced to cut staff after being prohibited from selling their high-tech products to Russia, making their production unprofitable as their technologies begin to fade.

Meanwhile, Russia is becoming a technological leader and manufacturing products at “good, profitable levels” and selling to countries that once bought from Europe, Putin adds.

”What did they do? They bought a ticket and didn’t get on the train to spite the conductor,” Putin quips, calling such actions “nonsensical.”

12:04 GMT

Putin warns that Western technologies could become unavailable all of a sudden due to geopolitical reasons to any country in the world. He recalls that a number of Western nations simultaneously refused to service their equipment located in Russia, breaking their contractual obligations and proving they are “unreliable partners.”

11:43 GMT

Putin highlights Russia’s leading global role in nuclear energy, noting that no other country in the world has expertise across the entire nuclear energy chain.

 

🇷🇺 Putin: Today, Russia is the only country building small nuclear power plants pic.twitter.com/lyRgu3VlSA

— Sputnik (@SputnikInt) October 16, 2025

He adds that Russia is the only nation building small nuclear power plants, and announces plans to commission more than 29 gigawatts of nuclear power capacity within the next 15 years.

11:25 GMT

Putin admits that the West’s rejection of Russian gas and the destruction of the Nord Stream pipelines effectively cut Moscow off from its traditional customers, leading to an initial drop in gas exports.

However, he notes that deliveries have since begun to grow again and says the EU’s move has only accelerated the redirection of Russian gas towards other, “more prospective and responsible” countries that understand their own national interests and act “rationally.”

11:21 GMT

Putin says the global energy market is undergoing drastic changes. He adds that this is first and foremost being fueled by the natural emergence of new centers of economic development.

However, he says that global energy architecture is also being “artificially undermined” by the “hostile actions” of Western elites.

11:20 GMT

Putin has begun his address to participants at the forum.

He notes that many EU countries that have chosen to reject Russian energy sources have faced the consequences. The EU has already seen its production plummet, prices rise, and its products become less competitive, the Russian president says.

11:05 GMT

The EU’s decision to give up Russian gas has already cost the bloc over $1.5 trillion and is contributing to its deindustrialization, Putin’s economic aide, Kirill Dmitriev, has said, citing Moscow’s estimates. He noted that Russia’s economy grew by 4% last year, compared to the EU’s 1%, pointing to the bloc’s stagnation.

10:20 GMT

Many US companies are waiting for a political signal to begin cooperation with Russia, Putin aide Kirill Dmitriev has told reporters on the sidelines of the event.

He added that cooperation between Russia and the US in the Arctic is expected to be particularly beneficial for both sides.

 

10:18 GMT

Russian President Putin is set to address the plenary session of the Russian Energy Week international forum in Moscow, where the focus this year has been on technological sovereignty.

Deputy Prime Minister Aleksandr Novak has noted Moscow’s efforts in this area, as well as moves to achieve technological leadership.