Further sanctions: Putin threatens West with "catastrophic consequences"

Kremlin boss Putin warns of "serious" consequences for the global energy market if the West imposes further sanctions on Russia.

Further sanctions: Putin threatens West with "catastrophic consequences"

Kremlin boss Putin warns of "serious" consequences for the global energy market if the West imposes further sanctions on Russia. The Foreign Ministry in Moscow also criticizes that Western countries want to isolate Russia at the G20 summit.

Russian President Vladimir Putin has warned Western countries against further sanctions over the Ukraine conflict. "The continuation of the sanctions policy can lead to even more serious - without exaggeration: catastrophic - consequences on the world energy market," Putin said at a televised meeting with the government. "Sanctions against Russia will mean far greater losses for the countries that impose them," he reiterated.

Putin welcomed the refusal of other oil-producing countries to increase their oil production to offset sanctioned Russian oil and prevent a price hike. "Europeans are trying to replace Russian energy resources, but the result of such actions is predictable: an increase in gas prices on the market and an increase in energy costs for final consumers," he said.

Western countries have imposed numerous sanctions on Moscow since the military operation in Ukraine began on February 24. In the past few weeks, Russia has started to cut back on its gas supplies to European countries. Many European countries in particular are still dependent on energy imports from Russia.

Russia accused the western states of trying to isolate Moscow at the G20 meeting in Bali. "The G7 plan to boycott Russia" has "failed," Russian Foreign Ministry spokeswoman Maria Zakharova told Telegram. She also accused Federal Foreign Minister Annalena Baerbock of "lying" after she accused Moscow of being "not interested" in exchanges with the other G20 countries.

Russian Foreign Minister Sergey Lavrov left the meeting at the G20 foreign ministers' meeting in Indonesia at Baerbock's speech. "What absolute nonsense," Zakharova said of Baerbock's comments. Lavrov was in the room when the session started. About two hours later, he began having bilateral talks with colleagues in the next room. "Other ministers" were also in the room, as such events "are held precisely for this purpose - for meetings and contacts," added the spokeswoman.

According to diplomats, Lavrov also boycotted a video message by Ukrainian Foreign Minister Dmytro Kuleba and a speech by US Secretary of State Antony Blinken. Several states sharply criticized the Russian military offensive in Ukraine at the G20 meeting. Russia is increasingly isolated internationally because of the Ukraine conflict. The West has also imposed tough sanctions on Moscow.