Russian President Vladimir Putin's threat to completely cut off energy supplies to the West in a deepening confrontation over Ukraine could prove to be a double-edged sword for Russia.
Just before the European Union announced a price cap on Russian gas on Wednesday, Putin threatened to sever supplies if such limits were imposed, warning the West it would freeze like the wolf's tail in a famous Russian fairy tale.
Halting flows to Europe from Russia, the world's second largest oil exporter after Saudi Arabia and the top natural gas exporter, would likely further roil global energy markets and leave the world economy facing even higher prices.