Russian President Vladimir Putin has threatened to cut off energy supplies to Europe and let the West freeze over winter if price caps are imposed on its oil and gas exports.

Mr Putin was also bullish in addressing an economic forum about Russia's invasion, claiming it had not lost anything in Ukraine.

Mr Putin blamed the West entirely for creating the energy crisis through sanctions.

“They put themselves in this situation and don’t know what to do now,” Mr Putin said.

“There’s only one way out of this.”

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