Putin: Sanctions hurt Russia but also negatively affect global economy

Speaking at the VTB Capital “Russia Calling” forum, Russian President Vladimir Putin acknowledged that Western sanctions do hurt the Russian economy, but they also negatively affect the global economy.

According to Putin, the detrimental effect of the sanctions, both in Russia and throughout the world, are especially apparent in the sphere of technology.

"We often repeat the mantra that these so-called notorious sanctions do not really affect us. Their influence, and above all the threat I see, is the limit of the transfer of technology. This, incidentally, is not only detrimental to the Russian economy but to the world economy as a whole, because the Russian economy is a vital sector for the global economy," Putin told investors at the forum.

“So those who do this [impose sanctions] hurt themselves in the end,” the Russian President added.

  Russia, Sanctions, the world

Comments

Please visit out Twitter account for updates on the situation in Ukraine.