Putin Announces Additional Measures to Support Russians Under Sanctions

Putin Announces Additional Measures to Support Russians Under Sanctions

Photo: http://kremlin.ru

At the meeting on social and economic support of the regions on March 16, Russian President Vladimir Putin stated the need to help private businesses and increase the minimum wage, as well as social benefits and pensions.

Putin underlined in his speech that by freezing Russia's assets, the U.S. and EU countries thus declared default on our country. According to Putin, everyone will know now that the state's reserves can simply be stolen. In response to such actions (asset freezing), Western countries will be forced to convert their reserves into goods as well. As a consequence, this will lead to their deficit.

The sanctions that have been announced to our country are general in nature and intended to worsen the lives of all Russian citizens. Russian business is currently under unprecedented pressure. That is why Putin instructed the government and the authorities in the regions to develop measures to support various sectors of the economy. Prime Minister Mikhail Mishustin previously reported that the government already has a plan to counter sanctions. It includes almost a hundred different initiatives, for which it is planned to allocate about 1 trillion rubles ($9.54 trln).

On March 16, as RIA Novosti reports, Russian President Vladimir Putin signed a decree on additional measures to support Russian citizens. This document, which comes into force from the moment of its signing, expands powers of regional authorities. It was them that the President addressed at the meeting, as the new conditions will require changes in the structure of the branches of economy.

In addition, Putin gave instructions to increase social payments under the current difficult economic conditions and to provide targeted assistance to citizens who lost their jobs and got into difficulties. The increase in wages of public sector workers was also discussed at the meeting.

The president also added that unemployment, caused by the exit from the market of some foreign companies, should be prevented, and that retraining and advanced training of those citizens who need it should be organized.

In addition, Putin emphasized that the prices of essential goods should be taken under control. There are enough reserves and economic power in the country to increase the production of necessary goods and services. The key role here, as emphasized by the Russian President, belongs to private business.

That is why in order to create more favorable conditions for small and medium-sized businesses in the country it is planned to reduce and in some cases even cancel inspections of enterprises for a period of time. As it was emphasized at the meeting, it is necessary to provide targeted support to those who will fulfill the orders coming from the authorities and give them an advance on production of up to 50% of the amount of contracts, while the term of payment for the goods released and services provided should be reduced to seven working days.

According to the plan, preferential loans will be offered to enterprises. As it was noted at the meeting, it is necessary to give them the opportunity to participate in public procurement and provide other preferences.

At the same time, Putin said that manual regulation of prices should not be allowed, and stabilization of prices will happen if the supply of various goods will be increased.

The Russian President emphasized that, unlike in Europe and the United States, the right to private property will be continued to be respected. Western countries have seized the accounts of Russian companies, as well as the expensive real estate of individuals. This situation should serve as a lesson for business, because a more reliable option is to invest in one's own country.

Addressing exporters, Putin urged them not to reduce the rate of production, but to direct production to the market within the country. This is what will lead to a reduction in prices of many goods.

In conclusion, Putin underlined that the military special operation in Ukraine is proceeding as planned and will be carried out in full. The current format of this operation, as the president added, was the only possible one under the current circumstances. The Russian Armed Forces are carrying out targeted strikes on Ukrainian military facilities and enemy manpower. Russia has no plans to occupy Ukraine, Putin said.

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