Russian President Vladimir Putin calls oil price cap 'threat to billions of people'

Moscow: Russian President Vladimir Putin on Wednesday called an oil price cap discussed by European leaders “a threat to the well-being of billions of people”, after saying Russia will not sell to countries implementing it. “With their cavalier decisions, some Western politicians are destroying the global market economy and are in fact posing a threat to the well-being of billions of people,” Putin told an energy forum in Moscow. Earlier on 7 September, Putin had said that Russia will stop delivering oil and gas supplies to countries that introduce price cap. Capping prices, as some Western countries are considering, “would be an absolutely stupid decision,” Putin told the Eastern Economic Forum in the Pacific port city of Vladivostok. “We will not supply anything at all if it is contrary to our interests, in this case economic (interests),” he said. “No gas, no oil, no coal, no fuel oil, nothing.” G7 industrialised powers on Friday vowed to move urgently towards implementing a price cap on Russian oil imports, in a bid to cut off a major source of funding for Moscow’s military action in Ukraine. Putin had said Russia would respect its contractual obligations and hoped other countries would do the same. (With inputs from AFP) Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.