Moscow: President VladimirPutin on today (Feb 1,2007) rejected suggestions that Russia is usingits vast energy reserves as a political weapon.

Russian oil shipments to Western Europe were interrupted forseveral days last month amid a dispute over prices with Belarus, through which a main Russian pipelinepasses, and gas shipments to Europe were reduced in early 2006 amid a similardispute with Ukraine.

"The thesis is being thrust on us all the time that Russia is usingits old and new economic efforts to attain foreign political goals. It is notso," Putin said during his annual news conference in the Kremlin. Manyobservers had speculated there was a political context to both disputes.

The price hike for Ukraine came amid apparent Kremlindiscomfort over Ukrainian President Viktor Yushchenko's West oriented policies.Belarus, led by authoritarianPresident Alexander Lukashenko, has become an increasingly awkward ally for Russia.

 Putin repeated Russia s contention that the price increases aredriven simply by Russias desire to get fair prices for its gas and oil after years of providing energyat below market prices to ex Soviet neighbors.

 "We re notobliged to subsidize the economies of other countries," Putin said.