Russian president argues that sanctions are helping Russia, boosting energy profits.

(LaPresse) Russian President Vladimir Putin said Thursday it is “highly unlikely” Europe will give up Russian energy resources in the coming years. Speaking at a meeting with young entrepreneurs, Putin also said that “the economic conditions that are being created are such that it is becoming increasingly profitable for us to sell petroleum products rather than crude oil.”

Putin also suggested that despite the embargo, Russia actually makes more profits on the oil it sells thanks to rising prices. At the end of May, European Union leaders decided to block most Russian oil imports by the end of the year.

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