The head of state recalled the difficult external conditions, this is sanctions pressure and the overall situation on world markets. He stressed that the authors of the sanctions, ‘guided by short-sighted, inflated political ambitions, Russophobia, to a greater extent, hit their own national interests.’ In addition, they deal a blow to their own economies, and to the well-being of their citizens.

The continuation of the West’s obsession with sanctions, Vladimir Putin believes, will lead to the most difficult consequences for both the citizens of the European Union and the poorest countries in the world.

This is already noticeable, primarily based on the sharp rise in inflation in Europe. In some countries, it came close to 20% per annum, and in the eurozone as a whole, commodity prices added over 11%, the Russian leader recalled.

The poorest states of the world are already facing the risks of famine, and the blame for this, the president is sure, lies entirely with the elites of Western countries. For the sake of maintaining their illusion of global dominance, they are ready to sacrifice the rest of the world, he stated.

Russia, on the other hand, is coping with external challenges provoked by Western sanctions. Putin noted that inflation is gradually slowing down, over the past month its rates have decreased several times compared to March. And the weekly increase in prices has already dropped to 0.1 per cent, which is already close to the weekly growth rate in line with the inflation target of the Bank of Russia.