Russian President Putin
Russian President Putin: The war between Russia and Ukraine is not over. Amidst this war, Russia had to face economic sanctions from all over the world. Despite this, Russian President Vladimir Putin has made a big statement regarding Russia’s economy. Putin claimed that despite world pressure from all sides, we are the largest economy in Europe. Putin said this at a meeting with entrepreneurs operating in the Russian Far East.
Russian President Putin said that ‘It seems that we are being strangled and pressurized from all sides, but still we are the largest economy in Europe.’ He said, ‘We left Germany behind and reached fifth place in the world in terms of GDP at purchasing power parity. We are number one in Europe.
More efforts needed to increase per capita income: Putin
However, the Russian President reiterated that the country still ‘needs to work hard’ to improve its per capita income. ‘We have left the whole of Europe behind in terms of purchasing power parity, but as far as per capita indicators are concerned, we need to work harder,’ Tass quoted him as saying. There is still work to be done. According to CNN, since the war began, Russia has been unable to access large portions of foreign exchange reserves held by its central bank, which were blocked as part of Western sanctions over the invasion of Ukraine. .
Russia managed the economic sanctions of Western countries
In a veiled attack on the United States and other Western countries, the Kremlin said in October last year that the Russian economy had adapted well to Western sanctions and Moscow did not fear further such actions. Kremlin spokesman Dmitry Peskov then told reporters, “Russia has been living under the sanctions regime for a long time, for decades and we have adapted to it well enough. So a time frame like five to 10 years does not scare us. ‘ The Kremlin further said the sanctions had “boosted” its domestic economy and industrial production.
Russia accuses Western countries of using Ukraine
The Russia-Ukraine war began on 24 February 2022. A day later the European Union imposed sweeping sanctions intended to send a clear signal to Moscow that war would have serious consequences. Meanwhile, Western countries and Kiev allege that Moscow is engaged in a ‘war of unprovoked aggression’ in Ukraine. On the other hand, Moscow has accused Western powers of using Ukraine to intimidate and weaken Russia’s own security.
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