Putin says West cannot isolate Russia or send it back in time | Russia-Ukraine war News

Russian chief says it’s unimaginable to chop Moscow off from the world, as EU says sanctions in opposition to Russia are working.

Russian President Vladimir Putin says it’s unimaginable to chop Russia off from the remainder of the world, and that sanctions imposed by Western nations is not going to flip the clock again on Russia’s growth.

Since sending troops into Ukraine on February 24, Russia has been hit with a barrage of Western sanctions designed to isolate it from the worldwide financial system which have disadvantaged it of entry to items together with business electronics, semiconductors and plane components.

“Not simply restrictions however the almost-complete closure of entry to overseas hi-tech merchandise is being intentionally, deliberately used in opposition to our nation,” Putin mentioned on Monday, talking at a video convention with authorities figures.

“It’s clear that it is a large problem for our nation, however … we’re not going to surrender and keep in a state of disarray or, as a few of our ‘well-wishers’ predict, return a long time. After all not,” he mentioned.

Putin mentioned Russia must develop its personal home expertise and expertise companies.

Finance minister Anton Siluanov mentioned help for the Russian expertise sector is a precedence, however that each rouble of state help needs to be accompanied by at the least three roubles of personal funding.

The EU’s overseas ministers mentioned on Monday that the sanctions imposed on Moscow are working, although additionally they threatened the EU’s power provides.

Final week, Hungary’s nationalist premier Viktor Orban – the EU chief closest to the Kremlin and a critic of Brussels – denounced the coverage, saying Brussels was hurting Europe greater than Moscow.

“Some European leaders have been saying that the sanctions had been … a mistake,” EU coverage chief Joseph Borrell informed reporters as he arrived on the bloc’s headquarters on Monday for talks on closing loopholes within the sanctions regime and growing strain on Russia.

“It’s what we needed to do and we are going to proceed doing,” he added.