After asserting that Moscow was adjusting to the penalties, President Vladimir Putin acknowledged on Wednesday that the sanctions placed on Russia for its participation in Ukraine might have “negative” effects for the country.
In a televised meeting with the cabinet, Putin stated that the sanctions placed against the Russian economy “could really have a negative impact in the med term.”
Since Putin began his campaign in Ukraine more than a year ago, Western capitals have slapped unprecedented sanctions on Moscow.
Putin has stated on several occasions that Russia is surviving the onslaught of economic sanctions, which were aimed primarily at its oil and gas exports.
The Russian president stated on Wednesday that the nation’s unemployment rate “remains at an all-time low” and that, following a springtime spike, inflation is predicted to “drop below four percent” by the end of March.
The resumption to a growth track, he continued, “should not make us feel at ease.
In order to boost our economy’s efficiency and secure its technical, human, and financial sovereignty, he continued, “We need to support and strengthen the positive trends in our economy.”
Putin urged the administration to “act swiftly and without needless red tape and delays.”
