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Putin: Russian economic system to beat ‘reckless’ sanctions


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ST. PETERSBURG, Russia — President Vladimir Putin stated at Russia’s showpiece funding convention Friday that the nation’s economic system will overcome sanctions that he known as “reckless and insane.”

Putin started his handle to the St. Petersburg International Economic Forum with a prolonged denunciation of nations that he contends wish to weaken Russia, together with the United States.

He stated the U.S. “declared victory in the Cold War and later came to think of themselves as God’s own messengers on planet Earth.”

Russia got here below a big selection of sanctions after sending troops into Ukraine in February. Hundreds of overseas firms additionally suspended operations in Russia or pulled in another country solely.

Putin stated attempting to break the Russian economic system “didn’t work.”

“Russian enterprises and government authorities worked in a composed and professional manner,” he stated. “We’re normalizing the economic situation. We stabilized the financial markets, the banking system, the trade system.”

Russia’s projected inflation fee has fallen marginally, however the present projected annual fee of 16.7% continues to be too excessive, he stated.

Putin additionally vehemently defended his nation’s actions in Ukraine. Russia has contended its neighbor posed a risk due to its need to hitch the NATO army alliance.

“In the current situation, against a backdrop of soaring risks and threats, Russia’s decision to conduct a special military operation was a forced one,” the Russian leader said. “It was very hard to make it, but it was forced and necessary. It was a decision by a sovereign country that has an unconditional right, based on the U.N. Charter, to defend its security.”

Putin predicted Russia’s success in Ukraine after greater than 16 weeks of preventing.

“All of the special military operation’s objectives will definitely be attained,” he said. “This is predetermined by the courage and heroism of our warriors, the consolidation of Russian society, whose support gives strength and confidence to Russia’s army and navy, the profound understanding of the rightness and historic justice of our cause.”

Russia also “will accept any of the choices” the Donetsk and Luhansk People’s Republics within the Donbas area of jap Ukraine make about their futures., Putin stated. There’s been constant hypothesis that the separatist territories will maintain votes on becoming a member of Russia, much like when Russia annexed Crimea in 2014. Separatist leaders of the 2 areas have expressed the will for such a referendum.

The preventing in Ukraine has raised fears of a worldwide meals disaster as a result of it has interrupted meals exports, notably of grain.

Putin stated Russia may “significantly increase its export of food and fertilizer” however expressed concern that Ukraine would possibly use earnings from exports to pay for weapons it has obtained from different nations.


Heintz reported from Moscow.


Putin: Russian economic system to beat ‘reckless’ sanctions.
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