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Russian President Vladimir Putin warned about the harmful consequences for the world economic situation resulting from the hostile sanctions policy pursued by the West against Russia.
Speaking at a meeting on economic issues on Thursday, the President said that Western countries imposing punitive sanctions on Russia over its special military operation in Ukraine are responsible for the current global scenario full of uncertainty, with inflation and food shortages rising.
Putin said that several countries in the world are already facing the threat of famine and that, should sanctions against Russia continue; the European Union could also be affected with hard to reverse consequences.
"The blame for this entirely and completely rests with the elites of the Western countries, who, for the sake of preserving their global domination, are ready to sacrifice the rest of the world," the Russian President said.
In this regard, Putin went on to say that, on the one hand, the country's responsible macroeconomic policy of recent years and, on the other, systemic solutions to bolster economic sovereignty, as well as technological and food security, have enabled Russia to deal confidently with external challenges.
#Russian President Vladimir Putin said on Thursday that the West's continued obsession with sanctions will lead to difficult consequences for #EU citizens and the poorest countries in the world. Sanctions against Russia can "provoke a global crisis," TASS said, quoting Putin. pic.twitter.com/HO3mQSxg1v
"Our production companies are gradually filling in domestic market niches freed up after unscrupulous partners left, including basic goods, industrial and service equipment, construction and agricultural machinery," Putin said.
Numerous Western companies had suspended operations or severed ties with Moscow altogether since February 24, when Vladimir Putin launched a special military operation in Ukraine following Kiev's breach of the Minsk agreements and the eventual recognition of the sovereignty of the Donetsk and Luhansk People's Republics.
In this context, in which Western countries and their allies in Europe impose wide-ranging punitive sanctions on Russia, targeting its companies and oil and gas industry, Moscow has condemned the unbridled support that the West and NATO are lending to Ukraine by arming Kiev in order to help it wage war against Russia.