September 28, 2022

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Speech at Economic Forum: Putin sees sanctions as global threat

Status: 07.09.2022 12:00 pm

Russian President Putin has described Western economic sanctions as a failure and a threat to the entire world. It is “impossible” to isolate Russia. He again defended a war of aggression against Ukraine.

Russian President Vladimir Putin, who has strongly criticized the economic sanctions imposed by Western countries, has at the same time declared that they have failed. They are short-sighted and a danger to the whole world, Putin told an economic forum in Vladivostok, eastern Russia.

After the corona epidemic, new difficulties emerged: “The West’s economic sanctions fever, its aggressive attempts to impose a model of behavior on other countries, to deprive them of their sovereignty and subject them to their own will.” These efforts were futile, as the world turned increasingly to Asia.

“It is impossible to isolate Russia”

The Russian economy is breaking barriers. It is “impossible” to isolate his country internationally. “As much as some would like to isolate Russia, it cannot be done.”

Global demand for Russian energy supplies is high. Russia will have no problem finding buyers worldwide. All the cornerstones for selling gas to China via Mongolia have already been agreed.

“Price cap is a stupid idea”

The idea of ​​a price cap for Russian energy circulating in Europe is “stupid”. It will only lead to price rise. If Europe introduces such a cap, Russia will no longer adhere to its supply agreements.

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Germany and Western sanctions are also responsible for the stagnation of Nord Stream 1. Russian energy giant Gazprom could restore suspended gas flow through the pipeline if a critical turbine is turned on, Putin said. Nord Stream 2 can also be activated “on demand”. “We don’t build anything for free,” he said.

At the same time, the President acknowledged that there are difficulties in some sectors and regions in his country. Companies that rely on goods from Europe are struggling, Putin said.

However, Russia expects a budget surplus of 0.5 trillion rubles ($8.18 billion) this year, while GDP will shrink by 2.0 to 2.5 percent, Putin said.

Putin again defended a war of aggression against neighboring Ukraine as allegedly necessary to protect Russia. “I can say that the main gain is the strengthening of our sovereignty – that is an inevitable consequence of what is happening now,” Putin said. He added of the war: “We have lost nothing and will not lose anything.”

He rejected accusations that his country was violating international law: the Ukrainian government was an “illegal regime” that came to power in 2014 after a “coup”.

He accused Ukraine of threatening Europe’s nuclear security by shelling the Zaporizhia nuclear power plant. He believes a report by the International Atomic Energy Agency (IAEA), which visited the plant last week, but criticized the IAEA for not holding Ukraine responsible for the shelling of the site. Putin said that Russia has no military equipment.

Food crisis alert

Putin also warned that growing problems in global food markets could have catastrophic consequences for many people. Russia has done everything to export Ukrainian grain, Putin stressed. But the grain does not go to the poorest parts of the world, but to the European Union. Developing countries will be betrayed. Such an approach, Putin said, would “increase the level of nutritional problems in the world.” He warned of an “unprecedented humanitarian catastrophe”.

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Mediated by the United Nations and Turkey, Russia and Ukraine agreed in July that grain ships could safely leave Black Sea ports again. Putin said he wanted to talk to Turkey about changing the deal.

Putin-X summit announced

Several high-level representatives of Asian countries are participating in the Eastern Economic Forum in Vladivostok, including a representative from China. Meanwhile, Russian Ambassador to Beijing Andrei Denisov announced that Putin and Chinese President Xi Jinping plan to hold a summit in Uzbekistan next week, according to RIA Novosti and TASS news agencies.

Putin also met with Myanmar’s junta leader Min Aung Hlaing on the sidelines of an economic forum in Vladivostok. The Russian president said Myanmar is Russia’s “long-term and reliable partner” in Southeast Asia. Relations between the two countries developed “positively”.