Russian President Vladimir Putin has threatened to completely cut energy supplies to the West if it tries to cap prices of Russian exports. He also vowed to press on with Moscow's military action in Ukraine until it achieves its goals.

Speaking at an annual economic forum in the far-eastern port city of Vladivostok, Mr Putin scoffed at the EU plans for a cap on Russian oil and gas prices as a "stupid" idea that "will only lead to a hike in prices".

"An attempt to limit prices by administrative means is just ravings, it's sheer nonsense," Mr Putin said.

"If they try to implement that dumb decision, it will entail nothing good for those who will make it."

He warned that such a move by the EU would represent a clear breach of existing contracts, saying that Russia could respond by turning off the faucets.

"Will they make political decisions violating the contracts?" he said.

The Russian leader said his nation would easily find enough customers in Asia to shift its energy exports away from Europe.

"The demand is so high on global markets that we won't have any problem selling it," he said.

Mr Putin added that "those who try to enforce something on us aren't in a position today to dictate their will," pointing at protests in the West against rising energy prices.

Turning off the energy tap

Hours before it was due to resume natural gas deliveries to Germany after a three-day stoppage for repairs, Russia's state-controlled Gazprom claimed it couldn't do so until oil leaks in turbines are fixed.

German officials and engineers refuted that claim.

The Kremlin blamed the suspension of supplies on Western sanctions against Gazprom, charging that they hamper normal maintenance of the pipeline's equipment and signalling that supplies may not resume until the restrictions are lifted.

EU officials rejected the claim as a cover for a political power play.