Putin threatens to halt supply as EU plans to cap Russia gas price

Prez Says Moscow Will Not Supply Gas, Oil, Coal, Heating Oil If Contract Contradicts Interests

The European Union proposed a price cap on Russian gas on Wednesday hours after President Vladimir Putin threatened to halt all supplies if they took such a step, raising the risk of rationing in some of the world's richest countries this winter.

The escalating standoff threatens to send sky-high European gas prices higher still, adding to already eyewatering bills EU governments are paying to stop their energy providers collapsing and prevent cash-strapped customers freezing in the cold months ahead.

Europe has accused Russia of weaponising energy supplies in retaliation for Western sanctions imposed on Moscow over Ukraine invasion. Russia blames those sanctions for causing the gas supply problems, which it puts down to pipeline faults.