Sanctions Against Russia Might Lead to Global Crisis, Says Putin

Sanctions Against Russia Might Lead to Global Crisis, Says Putin


Sanctions, imposed on our country, are bringing to a global economic crisis, said Russian President Vladimir Putin at a meeting with members of the government on economic issues.

Putin underlined that all restrictions imposed by our Western ‘partners’ hit their own citizens first and foremost. That is, according to Putin, the entire sanctions policy of the West can lead to “hard-to-predict consequences” for the peoples of Europe and the United States, as well as the poorest countries of the world.

Meanwhile, inflation in Europe is becoming more and more noticeable. In some EU countries, it may be up to 20% per annum, and as for commodity prices, they raised by more than 11% in the EU countries. It turns out that this is not the worst thing yet, because the poorest countries are already threatened by the risk of real hunger, and the main culprit is the Western elites, who are ready to sacrifice the rest of the world for the sake of their domination.

Since the start of the special military operation in Ukraine, the West has imposed five packages of sanctions on Russian businessmen, officials and companies, and a sixth package is being negotiated, Putin said. In the new package, the “civilized world” intends to gradually impose an embargo on Russian oil supplies, disconnect Sberbank and two other major banks from the SWIFT system, and impose a number of other restrictions.

Despite the numerous challenges from our Western “partners,’ Russia is coping with the circumstances, primarily due to the macroeconomic policy of recent years and systemic decisions to strengthen economic sovereignty and food and technological security.

It should be noted that inflation in the country is steadily slowing down, and compared with March in April, its rate has already decreased several times. Also, the ruble exchange rate has strengthened this year, which any citizen of our country can observe with his own eyes at the currency exchange offices. Moreover, it is the Russian ruble that demonstrates the best dynamics among the currencies of the whole world.

As for the consolidated budget surplus for January-April, it already amounted to 2.7 trillion rubles ($42.48 bln.) Domestic companies are gradually occupying the vacant niches after the departure of their scared “Western "partners.”

Nevertheless, for all that, domestic demand has slightly decreased compared to last year's figures, as well as the amount of funds in the accounts of Russian citizens and businesses. There is a consolidated opinion in the expert community that such risks, especially given the experience in the COVID-19 pandemic conditions, should certainly be reduced.

This year's grain harvest is expected to be unprecedented in the history of Russia. According to preliminary forecasts announced at the meeting by Putin, it may reach about 130 million tons, including 87 million tons of wheat, which will not only meet our domestic needs, but also increase supplies to the global market.

According to Vladimir Putin, this is “crucial for global food markets.” In addition, the Russian President noted that such an indicator as the income of citizens is the most important indicator of the success of socio-economic policy. So, according to Putin, it is necessary to support consumer demand and increase opportunities for businesses and regions of the country.

Victory Parade: Traditions are Unbreakable Bitter Legacy of Burlakov