President Vladimir Putin has said Russia will not involve itself in the gas price hike currently ravaging Europe.

Mr Putin on Wednesday said the surging prices portends adverse consequences, including for Gazprom, the country’s leading energy company. 

“This also has certain consequences for us. Well, I’m not talking about energy now.

“If there is a decrease in consumption, but such a situation ultimately leads to a decrease in consumption, this will affect our production companies.

“Gazprom as well, therefore we are not interested in the endless growth of prices for energy resources, including gas.

“We are not interested,’’ Mr Putin said during a government meeting. 

In Nigeria, prices of cooking gas have risen sharply over the recent weeks. Many households have been priced out of the essential unregulated commodity.

(Sputnik/NAN)