Putin warned about the possible negative impact of sanctions on the Russian economy

Anti-Russian sanctions may still have a negative impact on the country’s economy in the medium term, so it is necessary to stimulate domestic demand. This was warned by Russian President Vladimir Putin during a meeting with members of the government.

“The illegitimate restrictions imposed on the Russian economy in the medium term can indeed have a negative impact on it. In this regard, we need to ensure a sustainable increase in domestic demand,” he said (cit. according to RIA Novosti).

According to Putin, it is demand that is the leading factor in economic growth in the current circumstances.

However, the head of state indicated the fact that the Russian economy in July 2022 entered the growth trajectory. But, despite this, you should not relax yet. “We need to support and strengthen the positive trends in our economy, increase its efficiency, ensure technological, personnel and financial sovereignty,” Putin said.

After the start of the special operation in Ukraine on February 24, 2022, Western countries began to impose sanctions on Russia. Putin has previously repeatedly stated that as a result of the sanctions, they did not achieve their goals and are an incentive for the development of a sovereign economy. So, in December 2022, the President urged achieve leadership in such areas as artificial intelligence, new industrial technologies, data transmission.