President orders measures to stabilize the country and support the population
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Western sanctions are a blow to Russia, but they also hurt the entire global economy, Russian President Vladimir Putin said during a government meeting on Wednesday.
“As their weapons, [Western states] choose economic, financial, trade and other sanctions against Russia. They are now backfiring on the Europeans and Americans through rising prices for gasoline, energy, food, and job losses associated with the Russian market,” said Putin.
He noted that the current situation is a lesson for Russian entrepreneurs, who should learn to choose partners wisely and keep in mind that “there is nothing more reliable than investments at home.”
“We see the position of those foreign companies that, despite the shameless pressure … continue to work in our country. In the future, they will certainly receive additional opportunities for development. We also know those who cowardly betrayed their partners, forgot about their responsibility to employees and clients in Russia, and hurried to earn illusory dividends by participating in the anti-Russia campaign,” Putin said, pointing out, however, that “unlike Western countries” who were quick to freeze the assets of Russian firms, “We will respect the right to property” of foreign businesses working in Russia and abstain from nationalizing their assets.