Russian President Vladimir today said Russia will cut off energy supplies if price caps are imposed Russia's oil and gas exports, warning the West that it would be 'frozen' like a wolf's tail in a famous Russian fairy tale.
Putin told at an annual economic forum in the far-eastern port city of Vladivostok that European calls for a price cap on Russian gas were 'stupid', and would lead to higher global prices and economic problems in Europe.
The G7 leaders announced plans to impose a price cap on Russian oil exports last week in a move that could also restrict Russia's ability to secure tankers and insurance from countries beyond the Group of Seven.
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