Fri. Jun 21st, 2024

The Russian economy has withstood the pressure of unprecedented sanctions, according to the president

Western nations have failed in their attempts to destabilize the Russian economy with sanctions, President Vladimir Putin said at a government meeting on economic issues on Friday.

“As a result of the actions of the Central Bank, as a result of the measures that were taken in a timely manner by the government … a lot was done. And the so-called blitzkrieg that our ill-wishers attempted in relation to Russia, the economic blitzkrieg, of course, has failed,” he said.

The president, nevertheless, acknowledged that the restrictions have hurt the country’s economy and “many risks still remain.”

Putin has urged that in response to the current challenges associated with Western sanctions, Russian energy companies should work for the long-term perspective. Gasification of the country’s regions and diversification of exports should be the key tasks for the government, he stressed.

According to the Russian leader, the government is already considering options for developing railway, sea and pipeline infrastructure for the supply of Russian oil and oil products to friendly countries, as well as gas transportation infrastructure to increase gas supplies to Asia and the domestic market.

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