Moscow: Russian President Vladimir Putin warned of the escalating conflict in the Middle East and its impact on energy costs worldwide.

According to Qatar News Agency, the rising oil and gas prices have been caused by the incidents in the Middle East. Putin stated in press remarks on Wednesday that nobody has reduced supplies, but prices have steeply skyrocketed due to the general situation in global markets, including oil and gas markets.

On the other hand, Putin considered attacking the Russian gas tanker in the Mediterranean Sea a terrorist act, noting that this was not the first time his country has faced this situation.