Years of Western mistakes are hurting the world economy, the Russian president said Western nations have mismanaged the global economy, and the entire world is now paying the price for their incompetence, Russian President Vladimir Putin said on Monday. He made the claim during an address ahead of the St. Petersburg International Economic Forum (SPIEF).

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UK authorities are in talks to reopen a key natural gas storage facility to tackle the energy crunch that has gripped the country and the rest of Europe, according to unnamed sources as quoted by Bloomberg.