OREANDA-NEWS Russian President Vladimir Putin called Europe's energy policy economic suicide. He said this at a meeting on the development of the Russian oil industry, TASS reported Gazeta.ru.

According to him, the increase of oil and gas prices may finally undermine the ability of most of the European industry to compete.

The president noted that European states seek to completely abandon Russian energy carriers, but they do not take into account what damage this decision will do to their own economies.

"Understanding what steps will be taken in the near future in the West, we must draw conclusions in advance and act proactively and turn the ill-considered, chaotic steps of some of our partners to our own benefit, to the benefit of our country," Putin stressed.

Earlier it was reported that Europe recorded a shortage of gasoline due to reduced exports from Russia.