Vladimir Putin: Russian financial system to beat ‘reckless’ sanctions

President Vladimir Putin instructed Russia’s showpiece funding convention Friday that the nation’s financial system will overcome sanctions that he known as “reckless and insane”.

Putin started his handle to the St Petersburg International Economic Forum with a prolonged denunciation of nations that he contends wish to weaken Russia, together with the United States.

He mentioned the US “declared victory in the Cold War and later came to think of themselves as God’s own messengers on planet Earth”.

Russia got here underneath a big selection of sanctions after sending troops into Ukraine in February, whereas a whole bunch of international firms suspended operations in Russia or pulled in a foreign country completely.

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“It didn’t work. Russian enterprises and government authorities worked in a composed and professional manner,” Putin mentioned. “We’re normalising the economic situation. We stabilised the financial markets, the baking system, the trade system.” Putin famous that Russia’s projected inflation fee has fallen marginally however that the present projection of 16.7% yearly continues to be too excessive.