Russian President Vladimir Putin said on Monday that the “economic blitzkrieg” launched by the West against his country in connection with the invasion of Ukraine had failed.
At a meeting with experts to analyze the socio-economic consequences of the sanctions, Putin added that their goal was to briefly undermine Russia’s economic and financial position. Other goals of the sanctions include the collapse of the banking system and the shortage of basic goods in stores.
However, according to the Russian president, “it is now possible to state categorically that this policy has failed, as well as the strategy of economic blitzkrieg.”
According to him, the sanctions turned against those who imposed them.
There is rising inflation and unemployment, deteriorating US and European economies, declining living standards for Europeans and the devaluation of their savings, Putin was quoted as saying by Interfax.