Russian President Vladimir Putin chairs a meeting on the situation in the oil and gas sector at the Novo-Ogaryovo state residence outside Moscow, on April 14, 2022. (MIKHAIL KILMENTYEV / SPUTNIK / AFP)

MOSCOW  - Russian President Vladimir Putin underscored the importance of diversifying energy exports as supplies in the western direction will be reduced in the foreseeable future.

"Therefore, it is important to consolidate the trend of recent years: step by step, reorient our exports to the fast-growing markets of the south and east," Putin said at a government meeting via video link on the current situation in Russia's oil and gas sector.

It is important to consolidate the trend of recent years: step by step, reorient our exports to the fast-growing markets of the south and east.

 Vladimir Putin, Russian President

"To do this, in the near future it is necessary to identify key infrastructure facilities and begin their construction," he said.

Meanwhile, Putin ordered to increase supplies of energy to Russian consumers, adding that price reductions are possible in order to stimulate domestic demand.

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He also instructed the government to boost the development of deep processing of oil and gas as quickly as possible.

Russia has demanded "unfriendly countries" buy its natural gas with rubles, but many of them have expressed opposition.

At the government meeting, Putin noted there are failures in the payments for Russian energy, and that banks from the "most unfriendly countries" are delaying the transfer of payments.  

In this Aug 3, 2013 file photo, Cuban police stand watch as the "Moskva" Russian guided missile cruiser moors at Havana's harbor. (ADALBERTO ROQUE / AFP)

Russia cruiser Moskva sinks

Russia on Thursday said the flagship of its Black Sea Fleet, the Moskva missile cruiser, sank in stormy seas when it was being tugged to a port after having been damaged in a blast.

Due to the damage to the hull caused by explosions of ammunition onboard, Moskva lost stability, the Russian Defense Ministry said, adding that its crew members had been evacuated to other ships.

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Moskva was "seriously damaged" by the detonation of ammunition onboard as a result of a fire, but it remained afloat after there were no open flames, the ministry said earlier in the day.

Maksim Marchenko, the governor of Ukraine's Odessa region, said on Telegram on Wednesday that Ukraine's border guards on Snake Island used Neptune anti-ship cruise missiles to deliver "very serious damage" to cruiser Moskva.