Moscow: On July 8, President Vladimir Putin said that the continued sanctions against Russia could lead to catastrophic energy price rises for European households. Europe has historically relied on Russia for around 40% of its natural gas, most of it delivered through pipelines. “We know that the Europeans are trying to replace Russian energy resources,” Putin said adding, “However, we expect the result of such actions to be an increase in gas prices on the spot market and an increase in the cost of energy resources for end consumers.”
