President Vladimir Putin has told Russia’s showpiece investment conference that the country’s economy will overcome sanctions he called “reckless and insane”.
President Vladimir Putin has told Russia’s showpiece investment conference that the country’s economy will overcome sanctions he called “reckless and insane”.
President Vladimir Putin told Russia’s showpiece investment conference on Friday that the country’s economy would surpass sanctions he called “reckless and insane”.
Mr Putin began his address at the St Petersburg International Economic Forum with lengthy condemnation of countries he says seek to undermine Russia, including the United States.
He said that America “declared victory in the Cold War and later began to think of itself as God’s own messenger on planet Earth.”
Russia came under a wide range of sanctions after sending Soldiers in Ukraine in February, Hundreds of foreign companies also suspended operations in Russia or pulled out of the country altogether.
Mr Putin said attempts to damage the Russian economy “didn’t work.”
“Russian enterprises and government officials acted in a creative and professional manner,” he said. “We are normalizing the economic situation. We have stabilized the financial markets, the banking system, the trading system.”
Russia’s projected inflation rate has declined marginally, but the current projected annual rate of 16.7% is still too high, he said.
Mr. Putin also strongly defended his country’s actions in Ukraine. Russia has argued that its desire to join a NATO military alliance threatens its neighbor.
“In the current situation, against the background of increasing risks and threats, Russia’s decision to conduct a special military operation was compelling,” the Russian leader said. “It was very difficult to make, but it was forced and necessary. It was the decision of a sovereign country which has an unconditional right, based on the United Nations Charter, to protect its security.”
Mr Putin predicted Russia’s success in Ukraine after more than 16 weeks of fighting.
“All special military operation objectives will certainly be achieved,” he said. “It is predetermined by the courage and valor of our warriors, the unification of Russian society, the support of which gives strength and confidence to the army and navy of Russia, a deep understanding of the truth of our cause and historical justice.”
Russia will also “accept any options” the Donetsk and Luhansk People’s Republics in eastern Ukraine’s Donbass region make about their future, Mr. Putin said. There is persistent speculation that the separatist region will vote on joining Russia, as Russia annexed Crimea in 2014. Separatist leaders in both regions have expressed their desire for such a plebiscite.
Fighting in Ukraine raises fears global food crisis Because it has disrupted food exports, especially grain exports.
Mr Putin said Russia could “significantly increase its exports of food and fertilizer”, but expressed concern that Ukraine could use proceeds from exports to pay for weapons received from other countries.