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Vladimir Putin warned of “catastrophic consequences” for world wide vitality marketplaces, with Europe nations most at threat, if western nations around the world impose further more sanctions on Russia about its invasion of Ukraine.
European nations are performing on locating choice resources of energy to switch Russian oil and fuel imports, posing a risk to the extensive-phrase security of the sanctions-hit Russian financial system, which has been bolstered by revenues from its commodities exports.
But speaking with customers of govt around movie website link on Friday, Russia’s president claimed it was European nations that confront the best possibility, as their transfer absent from Russian energy will guide to higher gasoline prices on the location market place and for shoppers.
“All this reveals, after yet again, that sanctions on Russia end up creating a lot far more hurt to all those countries that impose them,” Putin explained.
“The further use of sanctions could guide to even extra intense penalties, even, devoid of exaggeration, catastrophic implications on the global electricity industry.”
Putin mentioned western nations around the world were being attempting to influence other electrical power producers to enhance their output in get to continue to keep down prices, “but the electricity market,” he reported, “does not tolerate these fuss.”
Putin admitted that sanctions were also having an effect on Russia and warned his ministers to not permit down their guard.
He claimed he could see some government officials relaxing a very little too a great deal, adopting an angle of: “I really don’t give a damn about these sanctions, screw them! It is all in the previous, we have coped with all the things and feel self-confident,” Putin claimed.
“Yes, we should really feel self-confident, but the threats continue being,” he reported. “These actions, these constraints, they are harmful our overall economy.”