We'll focus energy exports eastwards - Putin

Russian President Vladimir Putin has called for the diversification of Russia's energy exports towards Asia

Putin warned that European countries were destabilising the market by moving away from Russian gas and oil. "Attempts to push out Russian suppliers, replace our energy resources with alternative deliveries, will inevitably affect the whole global economy," he said.

 Qazet.az reports that, Speaking earlier today, he said Russia would shift the direction of its exports "step by step" to the "fast-growing markets of the south and east".

Last year, soaring prices meant oil and gas revenues accounted for 36% of Russia's government spending.

Much of that income comes from the European Union, which imports about 40% of its gas and 27% of its oil from the country.