Putin claims Russia continues to take steps to stabilize economy & combat sanctions

Amidst its ruthless war against Ukraine, the Russian government claimed that it continues to take steps to stabilize the economy and combat the sanctions imposed by the Western countries. Notably, several countries across the world have imposed numerous sanctions against Russia for its unjustified invasion of Ukraine. Addressing a virtual meeting of the Supreme Eurasian Economic Council (EEC) on Friday, Russian President Vladimir Putin stated that his government is acting decisively to ensure the smooth functioning of the market and financial sector. 

"We are striving hard on increasing access to finance, to support working capital and liquidity," Putin said, CNN reported. Meanwhile, Russia had begun demanding that countries pay in rubles for oil and gas shipments, but President Putin asserted that this policy will be modified for some allies in the coming days. "We are extending the practice of payments in the national currencies for those countries that have proven themselves as reliable partners for Russia," he added.

Putin says anti-Russian sanctions appear to have affected everyone

Earlier on May 26, Putin claimed that anti-Russian sanctions appear to have backfired also on those who imposed them, and that Western nations haven't experienced such high inflation levels in decades. He also warned that the West's decision to freeze hundreds of billions of dollars in Russian assets overseas will not lead to anything good in the long term. Further, he went on to discuss the issue of food insecurity, which has risen in prominence as a result of Russia's invasion of Ukraine - one of the leading grain producers in Europe. 

Interest in Eurasian Economic Union growing despite Western intervention: Putin

"Russia and other members of our organization are acting appropriately," President Putin said, adding that Eurasian countries were completely self-sufficient as far as food production was concerned. He further claimed that despite the complex international scenario created by the so-called "collective West" with its confrontation, interest in the Eurasian Economic Union was constantly growing. Putin also stressed that deepening relations with all Eurasian partners is critical for Russia. Notably, the Eurasian Economic Union is a post-Soviet economic union based in Eurasia. The leaders of Belarus, Kazakhstan, and Russia signed the Treaty on the Eurasian Economic Union in 2014.

Image: AP