Russian President Vladimir Putin has condemned sanctions imposed on the west towards his country since the invasion of Ukraine.
Russia
invaded Ukraine on 24 February, drawing a tough response from the West.
The west
has placed sanctions on Russia's currency, the Rouble, limited or totally cut
off Russian exports, banned travel to and fro Russia and imposed fines and
sanctions on Russia oligarchs and politicians including Putin himself.
Now Putin
says the sanctions imposed by the West on Russia are "mad and
thoughtless".
Speaking
at a forum in St Petersburg on Friday, June 17, he said "the economic
blitzkrieg against Russia had no chance of succeeding from the very beginning.
They are mad and thoughtless."
Putin said
the sanctions were "more harmful" to those who imposed them.
His
statement comes as fierce fighting continued in Ukraine's eastern city of
Severodonetsk.
Capturing
Severodonetsk and Lysychansk has for weeks been the key target for Russian
troops.
Speaking
at the annual St Petersburg International Economic Forum, Putin said the EU
could lose more than $400bn (£326bn) because of its sanctions against Russia.
He said
inflation was increasing across the 27-member EU bloc and the real interests of
people in Europe were being sidelined.
Referring
to fears of a global food crisis triggered by the continuing war in Ukraine,
Putin claimed that Russia was "capable of significantly increasing its
exports of grain and fertilisers." Grain exports alone could rise to some
50 million tonnes, he said.
Ukraine is
one of the world's top grain producers along with Russia, but has been unable
to send supplies abroad because of a blockade of its Black Sea ports.
Putin also
told Russia's major business men to keep investing in the country, amid reports
that an increasing number of business owners were refocusing their efforts on
overseas operations.
"Invest
here. It's safer in your own house. Those who didn't want to listen to this
have lost millions abroad," Mr Putin said.
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