Putin blasts ‘stupid’ Western sanctions as economic ‘blitzkrieg’ | Russia-Ukraine war News

At St Petersburg financial discussion board, Russian president says West making an attempt to crush Russia with ‘silly sanctions’, amounting to an financial ‘blitzkrieg’.

Russian President Vladimir Putin has accused the West of colonial conceitedness and of making an attempt to crush his nation with “silly” sanctions that amounted to an financial “blitzkrieg”.

Addressing the St Petersburg Worldwide Financial Discussion board on Friday, a showcase occasion this yr being held with nearly no Western participation, Putin informed Russia’s political and financial elite that he would proceed his struggle on Ukraine.

“We’re sturdy folks and might deal with any problem. Like our ancestors, we’ll resolve any downside, the complete thousand-year historical past of our nation speaks of this,” he stated.

Putin drew applause from the corridor when he reaffirmed his dedication to proceed the “particular army operation” in Ukraine that has unleashed what he stated was an “unprecedented” barrage of Western financial sanctions.

He stated the principle purpose of the invasion was to defend “our” folks within the largely Russian-speaking Donbas area of japanese Ukraine – a justification that Kyiv and the West dismiss as a baseless pretext for a struggle that has already led to the occupation of elements of southern Ukraine far past the Donbas.

Putin stated that Russian troopers within the Donbas had been additionally combating to defend Russia’s personal “rights to safe growth”.

“Within the present state of affairs, towards a backdrop of accelerating dangers for us and threats, Russia’s choice to conduct a particular army operation was compelled – troublesome, in fact, however compelled and needed,” he stated.


‘Committing suicide’

Putin stated america thought-about itself “God’s emissary on Earth”, and that Western sanctions had been based on a false premise that Russia had no financial sovereignty.

Washington and its allies had been making an attempt to “change the course of historical past”, he stated, to weaken a sovereign, impartial Russia.

He stated Moscow would proceed to develop as an “open financial system” regardless of Western sanctions imposed because of its invasion of Ukraine.

Some international currencies had been “committing suicide”, Putin stated, in a reference to the unprecedented freezing of about $300bn of Russia’s international forex reserves.

Russia, he stated, would preserve coping with Western firms, and he hoped fuel flows would enhance through new routes.

Russia would additionally proceed to increase financial cooperation “with those that need it”, he added.

Shortly earlier than Putin was resulting from start talking on the discussion board, the Kremlin introduced {that a} “denial of service” cyberattack had disabled the accreditation and admission programs of the convention, forcing the Russian president to delay the scheduled begin of his speech by an hour.

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