On Wednesday, Russian President Vladimir Putin said that the West was failing because of a fruitless and aggressive endeavour to isolate Russia via the use of sanctions, which was hurting the world economy at a time when Asia was rising to seize the future.
In response to what Vladimir Putin has characterised as a special military operation in Ukraine, the United States and its allies have levied the worst penalties in the history of contemporary sanctions. Putin has compared the sanctions to a declaration of economic war on Russia.
During his speech at the Eastern Economic Forum, which took place in the city of Vladivostok in the Russian Pacific, Vladimir Putin said that the economic sanctions imposed by the West on Russia had taken the place of the COVID epidemic as the primary danger to the world economy.
Putin said, “I am speaking of the West’s sanctions fever, with its blatant and aggressive endeavour to impose patterns of behaviour on other nations, to strip them of their sovereignty, and to submit them to their will.” “I am speaking of the West’s sanctions fever,”
On February 24, Russia began what it described as a “special operation” in Ukraine, sending tens of thousands of soldiers into the country in an effort to weaken its southern neighbor’s military capabilities and to weed out individuals whom it referred to as “dangerous nationalists.”
The Ukrainian armed forces have put up a determined fight. Neither side has acknowledged the number of troops who have been killed in the conflict.
The effort by the West to economically isolate Russia, which is one of the world’s largest suppliers of natural resources, has catapulted the global economy into new seas with skyrocketing costs for food and energy. This is one of the consequences of the endeavour.
It has been harmful to Russia as well.
Putin said that the West was attempting to impose its will on the rest of the globe, but that their strength was waning as Asia had become the new epicentre of global development.
According to Putin, “irreversible and even seismic shifts” have taken place across the board in the realm of international affairs. “The influence of dynamic and promising nations and areas of the globe, most notably the Asia-Pacific region, has greatly expanded.”
Li Zhanshu, who holds the position of No. 3 in the Chinese Communist Party at the moment, was one of the visitors who attended the event.
Putin said that China will pay Gazprom in national currencies for the gas it purchases, with the transaction being divided evenly between the Russian rouble and the Chinese yuan.
Putin also said that Russia’s economy was successfully dealing with what he referred to as the “financial and technical assault” of the West, despite the fact that he admitted certain challenges in some sectors and areas.