His feedback had been designed to painting Western sanctions as self-defeating and reassure Russians that the nation can stand up to what Moscow is asking an “financial battle” towards its banks, companies and enterprise oligarchs. Putin mentioned Moscow — a serious power producer that provides a 3rd of Europe’s gasoline — would proceed to satisfy its contractual obligations though it has been slammed with complete sanctions together with a ban on US purchases of its oil. “They introduced that they’re closing the import of Russian oil to the American market. Costs there are excessive, inflation is unprecedentedly excessive, has reached historic highs. They’re attempting in charge the outcomes of their very own errors on us,” he mentioned. “Now we have completely nothing to do with it. ” Hitting again towards the West, the Russian authorities mentioned earlier it had banned exports of telecom, medical, auto, agricultural, electrical and tech gear, amongst different objects, till the top of 2022. In whole, over 200 objects had been included on the export suspension record, which additionally coated railway automobiles, containers, generators and different items.
Putin acknowledged that sanctions imposed had been being felt. “It’s clear that at such moments folks’s demand for sure teams of products all the time will increase, however we have now little doubt that we’ll resolve all these issues whereas working in a relaxed vogue,” he mentioned. “Steadily, folks will orient themselves, they may perceive that there are merely no occasions that we can’t shut off and resolve. ” Putin famous that Russia is a serious producer of agricultural fertilisers, and mentioned there can be inevitable “adverse penalties” for world meals markets if the West made issues for Russia. His agriculture minister reported on the assembly that the nation’s meals safety was ensured.