Putin says Russia will emerge stronger, warns sanctions will reverberate in the West

President Vladimir Putin said on Thursday that sanctions imposed on Russia would reverberate in Western countries, including in the form of higher food and energy prices, adding that Moscow would emerge stronger from its decision to invade Ukraine.

He claimed that there was no alternative to what Russia calls its “special military operation” in Ukraine and that the nation could not accept that its sovereignty was compromised for some kind of short-term economic benefit.

“These sanctions would have been imposed anywayPutin said at a Russian government meeting. “There are some problems and difficulties, but in the past we have overcome them and we will overcome them now.”

“In the end, all this will lead to a strengthening of our independence, self-sufficiency and sovereignty.”, he remarked at the televised meeting, two weeks after Russian forces invaded neighboring Ukraine.

His comments were aimed at criticizing Western sanctions as counterproductive and assuring Russians that the country can resist what Moscow calls a “economic war” against their banks, companies and oligarchs.

Putin indicated that Russia, a major energy producer that supplies a third of Europe’s gas, would continue to meet its contractual obligations despite being subject to extensive sanctions, including a ban on US purchases of its oil. .

“They announced that they are closing the import of Russian oil to the US market. Prices there are high, inflation is unprecedented, it has reached all-time highs. They are trying to blame us for the results of their own mistakes“, said. “We have absolutely nothing to do with it.”

Responding to the West, the Russian government earlier said it had banned exports of telecommunications, medical, automotive, agricultural, electrical and technological equipment, among other items, until the end of 2022.

In total, more than 200 items were included in the export suspension list, which also covered railway cars, containers, turbines and other goods.

“We will solve these problems”

Speaking in a calm tone, Putin acknowledged that the Russians were already feeling the sanctions imposed since the February 24 invasion.

“It is clear that at the moment people’s demand for certain groups of goods is always increasing, but we have no doubt that we will solve all these problems by working calmly.“, Held.

“Little by little, people will get their bearings, understand that there are no events that we cannot solve”.

Putin pointed out that Russia is a major producer of agricultural fertilizers and that it would “negative consequences” unavoidable for world food markets if the West continues to give it trouble.

Its Minister of Agriculture reported at the meeting that the country’s food security is guaranteed.

At the same meeting, Finance Minister Anton Siluanov said that Russia had taken steps to limit capital outflows and that the country would pay its foreign debt in rubles, not dollars.

“For the past two weeks, Western countries have, in essence, waged an economic and financial war against Russia.”, he declared.

Siluanov said the West had breached its obligations to Russia by freezing its gold and foreign exchange reserves, and is trying to stop foreign trade.

“In these conditions, the priority for us is to stabilize the situation in the financial system”, affirmed the minister.