Putin says the EU is losing about 400 billion euros due to sanctions

At the Petersburg Economic Forum, Putin denounced that “according to expert estimates, sanctions could cause more than $ 400 billion (approximately ில்லியன் 400 billion) in direct damage to the EU next year, far removed from reality and without common sense.”

According to the Russian leader, the European Union has already lost its sovereignty and its elite are “dancing to the music of others”, signifying the influence of the United States and the inability of European countries to define their own strategy.

Putin denounced “they are doing everything they are told to do from above, their own people and their economy, their businesses,” citing Brussels’s sanctions on Moscow.

Inflation has already crossed 20% in many eurozone countries, largely due to Russia’s boycott of energy products, Putin said.

“Rising prices, inflation, food and fuel problems, and the problems of the petrol and energy sectors as a whole are the result of systematic errors in the economic policy of the current US government and the European bureaucracy,” Putin explained.

Putin underestimated the impact of Western sanctions on the Russian economy.

“We are gradually regulating the economic situation. We started by stabilizing the financial markets, the banking system and the business chains. We began to pay cash into the economy to maintain the stability of companies,” Putin said.

Vladimir Putin supported that we live in the end of the United States-led unilateral world, despite Western efforts to protect it “in every way”.

According to the Russian president, this era is “over” and we will see a change in the “natural process of history”.

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“In recent decades, new and powerful centers have emerged and become increasingly vocal, and the United States has not realized that each is improving its political systems and public institutions,” Putin explained.

To illustrate the decline of the West, the Russian leader recalled that the United States ceased to be an export country and became an import economy, which caused a global economic crisis.

On the situation in Ukraine, Putin promised that the Russian military would carry out “without fail” the initial objectives of the “special military operation” that began in February.

The Russian president praised the “courage and bravery of the soldiers”, the “integration of Russian society” and the understanding of the “legitimate” nature of this military operation.

Putin reiterated that he was “compelled” to launch a military campaign in the face of “dangers and threats” to Russia.

The Russian leader concludes that “this decision is to protect our citizens, the inhabitants of the Donbass republics, from the neo-Nazis who were genocide by the Kiev regime for eight years and were protected by the West.”

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