Russian President Vladimir Putin has mocked the west's plans to cap prices for Russian oil and gas.
It comes as the UK's new Prime Minister Liz Truss and her newly assembled Cabinet were meeting this morning to consider a plan to freeze energy bills in order to save households and businesses from financial ruin. The Prime Minister is expected to announce a plan to freeze domestic bills in England, Scotland and Wales at around £2,500 – some £500 higher than the current cap but £1,000 below the level they are expected to hit in October and many thousands below rises predicted over the next six months.
The policy, which could cost as much as £150 billion according to The Times, will be funded through borrowing and general taxation and is still being finalised by Ms Truss, Chancellor Kwasi Kwarteng and other ministers and officials.
