VLADIVOSTOK, September 7. /TASS/. Russian President Vladimir Putin said that Russia will fulfill its contracts, but will not supply gas, oil, or coal at a loss.

"There are contractual obligations, supply contracts. But if any political decisions are made that contradict the contracts, we simply will not comply with them. We will not supply anything at all if it contradicts our interests," he said on Wednesday at the Eastern Economic Forum.

At the same time, Putin laced into the West’s latest proposal of imposing price cap on Russian energy resources as "absolutely stupid". "This is an absolutely stupid solution. If anyone tries to implement this, it won’t lead to anything good for those who make this decision,"he said on Wednesday at the Eastern Economic Forum.

Organized by the Roscongress Foundation, the Seventh Eastern Economic Forum will be running from September 5 to September 8 in Vladivostok. TASS is the event’s general information partner and its official photohost agency. This year, the theme of the forum is: "On the Path to a Multipolar World."