With sanctions on Russia weighing heavily on funding Ukraine’s invasion, Moscow’s reliance on fossil fuels could come to an abrupt end. As Europe continues to struggle with an energy crisis, steps are being taken by Western powers to reduce its dependence on Russian supplies.

Several key energy sources are now being considered by the West, including gas from Qatar, as well as oil and gas from Venezuela and Iran.

Speaking to Express.co.uk, Keith Pilbeam, an economics professor at City University, said some nations might be ready to “undermine” Russia to sell off their resources.

Before considering such moves, Prof Pilbeam said that the move away from Russian energy starts at home.

He said: “I think European governments will put more emphasis on saving energy, but it will have little impact on Russia.

“If there is less consumption, there will be less need to buy Russian gas and oil.”

The professor also suggested that the West holds the key when it comes to buying oil and where it buys it from.

He said: “The West can far outrun Putin’s budget.

“As we can add and remove sanctions against Russia, we can do the same for others.

“Some of these nations currently under sanctions, such as Iran and Venezuela, could walk away from Russia and this is their chance to get into the good graces of the West.

“I think Iran and Venezuela will be tempted by Western money to undermine Russia, and being under Putin’s thumb means you’ll be on the wrong side of history.

“Iran wants to improve its economy, and it all comes down to money, and Iran boosting its economy will be good for the government.”

READ MORE:
Biden slammed for trying to patch up Iran deal amid Putin invasion

However, another scholar suggests that it may not be so simple.

Dr. Manouchehr Takin, a recognized world expert on the technical and economic aspects of global oil supply and demand, OPEC politics and geopolitics, said: “Iran can only have a partial impact on Russia’s already huge oil and gas exports”.

Speaking to Express.co.uk, Dr Takin said: “Due to sanctions Iran has a large amount of oil in storage.

“If the sanctions are lifted, Iran can very quickly release oil from storage centers around the world, this will have a big impact on the global oil market.

“The process will take several weeks or months.

“It can’t really replace Russian oil to Europe, but it helps.

“Iranian oil on the market will lower the price, but will not impact the Russian economy.

“The key to Russian income is gas supply.

“With Europeans not buying Russian gas, end consumers will suffer, as will the Russian economy.

“But Iran can’t supply gas globally without the infrastructure that Russia already has in place, so it will take time, resources and money.”

DO NOT MISS :
Kim humiliates Putin after Russia asks for help [REPORT]
“Russia on the run!” Putin only has TEN days to survive [INSIGHT]
US ‘dragon’ spy plane lands at RAF base [REVEAL]

As talks unfold in Vienna around reinstating the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action or JCPOA, some fear lifting sanctions will encourage Iran to advance its nuclear deal.

Iran, however, has repeatedly stated that its nuclear program is for peaceful civilian use only.

Professor Pilbeam, speaking of the ongoing talks in Vienna, said: “The West will not allow the nuclear program to destabilize the Middle East, and this will be used as a bargaining tool to induce Iran to sell oil , thus increasing its economy”.

Should Europe turn to alternative sources of oil and gas? Can Iran meet global demands as the global economy recovers from the pandemic? Should consumers play their part and reduce their energy consumption? Let us know what you think by CLICKING HERE and joining the debate in our comments section below – Every voice counts!

Security scholars suggest that a nuclear-capable Iran would spark an arms race in West Asia, seeing Saudi Arabia, the United Arab Emirates and others pick up such weapons.

Israel has also threatened to stand alone against Iran and has been accused by Tehran of carrying out covert operations on Iranian nuclear facilities in Iran.

With oil and gas at record prices, the introduction of Iranian resources will provide a much-appreciated buffer against rising prices, but this could be a short-term solution until more reliable logistics are put in place. square.