Recently, in an address, President Vladimir Putin shed light on the resilience of the Russian economy in the face of heavy international sanctions. Despite restrictions, Russia has expanded economic ties with countries across Africa, the Middle East, and Asia, as Putin sought to attract investors.
While speaking at a forum attended by leaders from Bolivia and Zimbabwe, as well as business figures, Putin mentioned that Russia remains an influential player in world trade, despite sanctions originating from its involvement in Ukraine.
For decades, Russia has used such forums to showcase its growth. However, Western officials and investors have largely avoided involvement since sanctions limited Russia’s trade with Western Europe, the US, and their allies.
The continuing conflict in Ukraine serves as a major driver of Russia’s economic progress, which is now as crucial economically as it is politically for the Kremlin.
While some imported goods have become scarce and world brands have vanished or been displaced by Russian alternatives, the all over economic landscape for most people in Russia has seen little change. Gigantic state spending on military equipment and payments to volunteer soldiers have provided a significant growth to the economy.
Regardless of tight control over media arrival since the Ukrainian conflict began, Putin put up questions from international journalists, as well as those from Western nations he has lambast, at the time of forum.
At the time of these interactions, Russian President Putin alert of the probability of Russia providing long-range weapons to other countries to target Western interests, responding to NATO allies which are in support of Ukraine’s use of arms against Russian territory. He moreover reiterated Moscow’s readiness to make use of nuclear weapons if it becomes aware of a threat to its sovereignty.
Noting, last year, journalists from nations consider as unfriendly by Russia, like US, the UK, and the European Union, were not invited to the forum.
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