Russian President Vladimir Putin said that the Russian Federation managed to achieve a stable economic situation despite the sanctions imposed by the West. The head of state said this at the Council of State for the Development of Industry under Sanctions. DEA News.
The President acknowledged that many industries in the Russian Federation are under sanction blockade, that Western countries have severed their commercial, economic and cooperation ties with Russia.
“But we were able to concentrate our resources and efforts to ensure the sustainability of the economic situation, including taking a number of necessary steps to replace Western products with analogues from Russian or foreign, “friendly” countries of production,” Putin said.
According to him, the Russian Federation began to actively invest in the replacement of foreign equipment and software, to implement new mechanisms for preferential and project financing.
On March 29, Putin held meetings with members of the government. then head of state requested Prioritizing the recovery of sectors affected by the sanctions.
On February 24, 2022, Russia launched a special military operation in Ukraine. This led to new sanctions against the Russian Federation by the United States and its allies.