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Vladimir Putin warns of 'grave consequences' to oil price caps

November 24, 2022 / 09:19 PM IST
Russian President Vladimir Putin (File image: AP)

Russian President Vladimir Putin (File image: AP)

Russian President Vladimir Putin warned Thursday that Western plans to introduce oil price caps could have "grave consequences" for energy markets during a telephone conversation with Iraq's prime minister.

"Vladimir Putin stressed that such actions are contrary to the principles of market relations and are highly likely to lead to grave consequences for global energy markets," the Kremlin said in a readout of the Russian leader's call with Iraqi Prime Minister Mohammed Shia al-Sudani.