Putin called sanctions against Russia insane and thoughtless

The expectation of Western countries that sanctions would ruin the Russian economy did not materialize, says President Vladimir Putin. According to him,

The sanctions imposed by Western countries against RUSSIA are thoughtless and insane, Russian President Vladimir Putin said during his speech at SPIEF. The event will be broadcast on RBC.

Putin pointed out that the speed with which they were introduced, and the number of restrictions that Russia faced , do not know precedents.

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“The calculation was understandable - to crush the Russian economy with a swoop, with a swoop, by destroying business chains, forcing the withdrawal of Western companies from the Russian market, freezing domestic assets, hitting industry and finance, and the standard of living of citizens. Did not work out. Obviously it didn't work out. It did not take place,” the President stressed.

Reshetnikov said that the West did not understand the harm from sanctions for him Economics

According to him, this was facilitated by the coordinated actions of the government, business and citizens, who "showed solidarity and responsibility."

“First, we stabilized the financial sector, then we began to saturate the economy with liquidity and working capital - to maintain the stability of enterprises and companies, employment and jobs. Gloomy predictions about the prospects for the Russian economy have not come true,” Putin said.

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Pessimistic forecasts about the future of the Russian economy, as well as “spells about a DOLLAR for two hundred,” Putin called part of the information struggle.

See also Putin called sanctions against Russia crazy and thoughtless 01:01

The President also noted that only the direct losses of the European Union “from the sanctions fever” for the coming year could exceed $400 billion. “This is the price of decisions divorced from reality and taken contrary to common sense,” Putin said.

According to him, "the very construction of Western sanctions" was built on the false thesis that Russia is not sovereign from the point of view of the economy and is critically vulnerable. “They were so carried away by the spread of the myth about the backwardness of Russia and the weakness of Russia’s position in the world economy and trade that they themselves believed it,” the president said.

Putin predicted degradation and change of elites for the EU Politics

At the same time, according to him, the country had already changed radically by the time the mass sanctions were introduced - as a result of the government’s planned work “to create a sustainable macroeconomic structure”, ensure food security, import substitution and form its own payment system, the president believes.

Putin agrees that the sanctions have faced new challenges for enterprises, but he says they “open up new opportunities” for developing the country’s economy and creating technological sovereignty, among other things.

The European Union approved the sixth package of sanctions against Russia Politics

Western countries began to impose sanctions against Russia after the start of a military special operation in Ukraine, the goals of which Putin called the protection of the inhabitants of Donbass from "genocide by the Kyiv regime." In response, Ukraine severed diplomatic relations with Russia, introduced martial law and mobilization.

Since the end of February, six packages of European sanctions have been put in place against Moscow, including a partial embargo on Russian oil supplies , a freeze on the assets of the Central Bank, a ban on financial transactions, sectoral restrictions and sanctions against a number of individuals.