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Vladimir Putin warned of “catastrophic consequences” for world-wide electrical power marketplaces, with Europe nations most at danger, if western nations around the world impose even further sanctions on Russia more than its invasion of Ukraine.

European countries are functioning on locating alternative sources of electrical power to change Russian oil and gasoline imports, posing a danger to the very long-time period steadiness of the sanctions-hit Russian economic system, which has been bolstered by revenues from its commodities exports.

But speaking with customers of governing administration over video link on Friday, Russia’s president mentioned it was European nations around the world that experience the biggest hazard, as their go away from Russian power will lead to bigger gas costs on the location industry and for customers.

“All this reveals, after yet again, that sanctions on Russia conclude up leading to much more damage to those people countries that impose them,” Putin explained.

“The even further use of sanctions could lead to even much more intense outcomes, even, with no exaggeration, catastrophic outcomes on the international power market place.”

Putin reported western nations had been attempting to encourage other energy producers to improve their output in order to continue to keep down charges, “but the power current market,” he said, “does not tolerate such fuss.” 

Putin admitted that sanctions had been also getting an influence on Russia and warned his ministers to not let down their guard.

He claimed he could see some government officers comforting a little as well considerably, adopting an mindset of: “I don’t give a damn about these sanctions, screw them! It is all in the past, we’ve coped with almost everything and sense self-assured,” Putin claimed.

“Yes, we must feel assured, but the challenges stay,” he explained. “These actions, these constraints, they are harming our economic system.”