President Vladimir Putin stated that Russia is ready to deliver the natural gas that Europe requires, but that the continent's present energy crisis is due to poor policies rather than a shortage of supplies.

At Russia Energy Week in Moscow on Wednesday, Putin said that Europe's largest gas provider is "prepared to discuss any additional steps" and meet its partners halfway. He also chastised the continent for adopting "systematic flaws" in its energy infrastructure and then "blaming shifting" when things went wrong.

Gas and electricity prices have risen dramatically, wreaking havoc on Europe's economy. While Russia's state-owned gas giant Gazprom PJSC has been meeting all of its long-term supply obligations, lower-than-expected Russian supplies have contributed to the continent's energy crisis.

Putin claimed that European consumers made a mistake by depending on short-term market supply to replenish their depleted gas storage facilities rather than signing long-term contracts.