[Putin Says Middle East Instability Disrupts Global Economy] Russian President Vladimir Putin chaired a meeting at the Kremlin, making a series of statements regarding energy transportation security, market trends, and Russia's strategic adjustments. Putin stated that oil production relying on transportation through the Strait of Hormuz could soon be completely disrupted—Russia has repeatedly warned that attempts to destabilize the Middle East will lead to rising oil and gas prices. The supply disruptions caused by Middle Eastern conflicts are impacting the entire international economic relations system. However, Putin also noted that the price increases might only be a temporary phenomenon. He emphasized that Russia should proactively adjust its direction, target new markets needing increased oil and gas supplies, and establish a firm foothold, rather than waiting for Europe to "demonstratively shut the door on energy cooperation with Russia completely." Putin also stressed that Russia is willing to cooperate with European countries on oil and gas supplies, but the European side needs to send clear signals indicating their willingness to provide stability for such cooperation. (CCTV International News)