The West's attempts to replace Russia's energy resources with alternative supplies will affect the global economy as a whole, Russian President Vladimir Putin said on Thursday in a video conference with representatives of the oil and gas sector.
Putin mentioned the attempts to find alternatives to Russian energy within a short time will lead to price hike and instability in energy market.
"European countries keep saying that they will abandon Russian gas supplies, which is further destabilizing the market and increasing prices, primarily for their own citizens," Putin said.
Putin said at present, one of the most urgent problems caused by the Western sanctions for the Russian energy sector is the disruption of export logistics.
Meanwhile, Putin ordered to increase supplies of energy to Russian consumers, adding that price reductions are possible in order to stimulate domestic demand.
Russia has demanded "unfriendly countries" buy its natural gas with rubles, but many of them have expressed opposition.
At the government meeting, Putin mentioned there are failures in the payments for Russian energy, and that banks from the "most unfriendly countries" are delaying the transfer of payments.
