Russian President Vladimir Putin said that the policies of European countries create conditions for the rise of nationalist and extremist sentiments in European society.
The statement was made this Friday (June 17, 2022) during the speech of the head of state at the 25th International Economic Forum in St. Petersburg, one of the most important economic events in Russia. This year’s edition was marked by the absence of investors from the west.
In his speech, the Chairman referred to the sanctions imposed on Russia in response to the war in Ukraine. For Putin, the EU (European Union) policy towards the United States is tantamount to an economic “lightning war”.
The term used deals with a war tactic that coordinates attacks from different groups in order to quickly and offensively defeat the enemy. It is translated from German as “Blitzkrieg”. The strategy was adopted by Nazi forces during World War II.
During the speech, Putin claims that the “reckless and insane” blockades failed to “crush” the country’s economy. While acknowledging that Russian inflation is high the price index hit 17.8% in the 12 months to April the president says the measures are doing comparable “and even greater” harm to European nations.
“We see social and economic problems worsening in Europe and also in the United States. As the cost of goods, food, electricity and car fuel increases. As the quality of life of Europeans decreases and the competitiveness of companies loses,” he said.
According to the President, society and businesses in the European Union are the ones who suffer “directly” from the “costs” that will result in a loss of global competitiveness and a systemic slowdown in the growth of the European economy.
Putin also says that the deepening of inequality in the nations of Europe will be “a direct consequence of the actions of European politicians”. For the President, it is about the wellbeing and values of the European people.
The costs will therefore divide societies and “inevitably” lead to a surge in populism and the growth of radical movements. According to Putin, the issue will also lead to “serious socioeconomic changes, devaluation and, in the near future, a change of elite” in Europe.
Still talking about the sanctions, Putin said Moscow will continue to develop as an “open economy” regardless of the blockades. The country will hold talks with companies in the west and expects gas exports to increase through new routes, the president said.
US “DOMAIN”
During the speech, Putin said it was an “illusion” to believe that “Western dominance” in global politics and economics was something “unchanging and eternal.” Referring to American influence in other countries, he said that “nothing lasts forever”.
According to the Russian leader, after the end of the Cold War, the United States declared itself “God’s messengers on earth” and classified its interests as “sacred.”
“She [EUA] They don’t seem to realize that over the last few decades new powerful centers have formed on the planet and are growing stronger. Each of them develops their own political systems and public institutions, implements their own models of economic growth and, of course, has the right to protect them in order to guarantee national sovereignty,” he said.
Since the beginning of the war, Putin has justified the February 24 invasion of Ukraine by citing guarantees of national sovereignty. At the event this Friday (June 17), he repeated the reasoning. He said Russia was “forced” to launch what he calls a “military special operation.”
“It was difficult but necessary. […] This is the decision of a sovereign country which, moreover, has the full right, on the basis of the UN Charter, to defend its security. A decision aimed at protecting our citizens, the residents of the People’s Republics of Donbass, who have been subjected to the genocide of the Kiev regime for eight years,” he said.
Putin also responded to claims that the war in Ukraine was responsible for the worsening of the economic scenario in the world due to its impact on supply chains and commodity markets.
He said the question was “simply not true”. He added that he could be “flattered” to learn that Russia is “so big” and “so powerful” that it could push up inflation in the United States. US interest rates hit 8.6% in the 12 months to May, the highest level on record in 40 years.
XI JINPING
Chinese President Xi Jinping also addressed the economic forum this Friday (May 17). In a video, the Chinese leader underscored the country’s commitment to trade with Russia despite Western sanctions against Moscow.
“China is willing to work with Russia and all other countries to explore development prospects, share growth opportunities and make new contributions to deepen global development cooperation and build a community with a common future for mankind,” he said.
In addition to Jinping, the President of Kazakhstan KassymJomart Tokayev and the President of Egypt Abdul Fatah Khalil AlSisi attended the event.
from left to right RT EditorinChief Margarita Simonyan, Vladimir Putin and President of Kazakhstan KassymJomart Tokayev. The President of China, Xi Jinping, appears on the screen.
EVENT DELAY
The start of Vladimir Putin’s speech at the Economic Forum had to be postponed by 1 hour due to “technical problems”.
According to Bloomberg, a hacker attack disrupted the internet, disrupting the badge system used to access the venue and delaying attendees’ access to the event. Kremlin spokesman Dmitry Peskov did not elaborate on who is responsible for the problem.