Anti-Russia sanctions don’t reflect global reality – Putin — Analysis

The Russian President claims that Western sanctions were driven by political opportunistic interests.

The West’s decision to sanction Russia over the Ukraine conflict was made for the sake of opportunistic political interests which do not reflect global realities, Russian President Vladimir Putin said on Monday.

Addressing a virtual meeting on Russia’s metals industry, the president noted that the sector continues to face challenges in light of the Western sanctions. He emphasized the problems of Russia’s inaccessibility to international markets, as well the restrictions on Russian buyers of foreign equipment used for production of steel sheets and fittings.

“As I have already said, these decisions were made by Western countries for the sake of political interests, moreover, current, opportunistic ones and not reflecting the realities either in world politics, nor in the world economy,”He claimed.

Vladimir Putin said that Western sanctions did not account for Russia. “obvious consequences”,These include the increasing cost of materials in international markets and the creation of inflation.

“The decline in well-being and the quality of life of ordinary citizens, first and foremost in Europe, is of no interest to politicians, not to mention such things as adherence to the principles of the World Trade Organization. These things have been simply tossed into the trash,”Russian President added.

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Putin described attempts to limit Russia’s metals industry as a blatant manifestation of unfair competition, a bid by the West to hinder Russian businesses and reconfigure world markets in their favor.

Western countries including the US and EU members have imposed sweeping sanctions on nearly all aspects of the Russian economy since the launch of Moscow’s military offensive in Ukraine in late February. This includes restrictions on Russian oil and natural gas, financial services and goods.

Last month, Putin branded the sanctions illegitimate, saying they ignore the fundamental principles of respecting another nation’s sovereignty and non-interference in its internal affairs. These actions do not just damage relations between peoples and states, they also undermine the global legal system.

Putin also reiterated Moscow’s stance that it will always be a reliable and responsible partner for those who are committed to mutually beneficial, predictable business cooperation. However, he promised that Russia would not be a burden to itself. “those who are clearly unfriendly towards us.”

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