News   /   Russia

Putin: Western countries 'scored own goal' in sanctioning Russia over Ukraine

Russian President Vladimir Putin

Russian President Vladimir Putin says Western countries have "scored an own goal" by imposing sanctions on Moscow over the military operation in Ukraine.

Speaking on the state of Russia's domestic economy on Monday, Putin said the sanctions against Moscow had led to a "deterioration of the economy in the West."

"Sanctions scored the goal of its initiators. I mean rising inflation, unemployment, and worsening of the economic dynamic in the United States and Europe, declining living standards for Europeans and the devaluation of their savings," the Russian leader said.

He, however, emphasized that the inflation was stabilizing in his country and that retail demand had normalized.

"Russia withstood the unprecedented pressure. Situation is stabilizing. Ruble exchange rate is back to early February level and supported by a strong balance of payments. As of the first quarter, surplus of the current account is above 58 billion (US) dollars. And it is a historic maximum," Putin said.

Providing further details on Russia's inflation rate, the president said, "Right now it's stabilizing. But at the same time, as we all know, consumer prices noticeably increased to 9.4 percent, and that annual rate as of April 8 state inflation stood at 17.5 percent."

Putin called on Russian government officials and the Central Bank to address "high value" inflation, underlining, "We need to support our people, help them get through the inflation surge."

Putin announced a “special military operation” on February 24 to demilitarize Donetsk and Luhansk, largely populated by ethnic Russians, in eastern Ukraine. The United States and its European allies have labeled the military operation “Putin’s land grab,” imposing waves of unprecedented sanctions on Moscow.

Western governments have slapped unprecedented sanctions against Moscow, but stopped short of getting directly involved in the conflict.

The Kremlin says it will halt the operation instantly if Kiev meets Russia’s list of demands, including never applying to join NATO. Washington justifies NATO’s enlargement as a move in response to Russia’s operation in Ukraine.

Press TV’s website can also be accessed at the following alternate addresses:

Press TV News Roku