Putin Warns West: Sanctions Risk Energy Price Spike Catastrophe

Putin Warns West: Sanctions Risk Energy Price Spike Catastrophe
Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, on July 7, 2022. Aleksey Nikolskyi/Sputnik/Kremlin via Reuters
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LONDON—President Vladimir Putin warned the West on Friday that continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world.

Putin, who casts the sanctions imposed on Russia as a declaration of economic war, said that Western calls to reduce reliance on Russian energy had made global markets “feverish” with spikes in oil and gas.