The West will print money, as it did in previous years, while energy prices continue to rise, Russian President Vladimir Putin said.

"It is clear how prices will be dealt with if they are high. We have been through this in relation to other commodity groups. They just print money, that's all," Putin said, speaking at the forum "Russian Energy Week."

According to him, last year alone, the money supply in the EU increased by about 1 trillion euros.

"But the problem is that Europe will use this money will rake in gas from the world market just like other commodities, including food. Consequently, the rest of the countries, especially the developing countries, are left to overpay for these energy resources," Putin pointed out.