Dmitriev assessed the consequences of the "tsunami" of oil prices for Europe

Kirill Dmitriev, Special Representative of the President of the Russian Federation for investment and economic cooperation with foreign countries, head of the Russian Direct Investment Fund (RDIF), said on March 19 that a sharp rise in oil and gas prices could lead to serious negative consequences for the European economy.

"A tsunami of oil and gas prices is coming that will devastate Europe. It is a consequence of the stubborn strategic stupidity of Russophobes such as [European Commission President] Ursula [von der Leyen] and [head of European diplomacy] Kaya [Callas]," he wrote on the social network X (ex. Twitter).

According to Dmitriev, the current situation on the energy market is a consequence of the refusal of the European authorities to cooperate with Russia in the energy sector.

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Earlier in the day, Bloomberg reported that the cost of liquefied natural gas in Europe increased by 35% amid Iran's attack on the facilities of an oil and gas company in Qatar. At the same time, Dmitriev had previously added that a blow to the LNG plant in Qatar could be catastrophic for the European Union.

In addition, the price of Brent crude oil for delivery in May 2026 on the London ICE exchange exceeded $111 per barrel for the first time since March 9, 2025.

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