Russian President Vladimir Putin on Friday warned of possible "catastrophic consequences" of Western sanctions on the global energy market. "Sanctions restrictions on Russia will bring far bigger losses for the countries that impose them," Putin told a televised government meeting -- an argument he often uses.
“Continuing to use the politics of sanctions can lead to even more serious, without exaggeration — catastrophic — consequences on the world energy market.” He welcomed that other oil-producing countries have resisted Western demands to increase their oil production to compensate for boycotted Russian oil and prevent a price hike.
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