Germany fears that Russia could cut off its gas supplies unless it agrees to pay bills in roubles - after Putin suddenly stopped sales to Poland and Bulgaria.
Russia was accused of blackmailing governments and millions of families across Europe by turning off the gas taps yesterday.
The state-owned gas giant Gazprom blocked supplies to Poland and Bulgaria, which initially sent wholesale prices in Europe soaring by up to 20 per cent.
Now, there are fears the Kremlin could target countries like Italy, Germany and Austria amid Putin's insistence that 'unfriendly' states must pay their bills in roubles.
One expert told the Times that most European Union importers were 'extraordinarily' likely to give way to Russia.
The Kremlin's move represents a dangerous escalation in the economic war with the West, triggered by the Kremlin's illegal invasion of its neighbour.
Moscow claimed the halt of natural gas supplies via the Yamal-Europe pipeline, which runs through Belarus, was a result of 'unfriendly' actions towards Russia.
Putin's spokesman Dmitry Peskov said both countries had refused Russian demands to pay in roubles, a move designed to prop up the heavily sanctioned currency.
He warned that other European customers may also see the taps turned off if they too refuse to pay in roubles next time payment is due.
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