Russia feels Western sanctions. Sanctions against Russia have caused many problems. Not only are problems, Vladimir Putin said, they also create new opportunities for us.

Vladimir Putin spoke about the economic development of Crimea on the eve of the eighth anniversary of Russia’s annexation of Crimea. Officials from Russia and Crimea participated in the video conference.

Russian President Vladimir PutinReuters

Sanctions against Russia – statements by Vladimir Putin

– Of course, the economic situation in Crimea worsened after the West imposed sanctions on the financial sector and on the import of goods, among other things. But new sanctions were imposed after the start of our military operation in Ukraine. Yesterday, at a meeting devoted to the socio-economic situation in the country, Putin said that sanctions against Russia have caused many problems.

Thursday marks the 22nd day of Russia’s invasion of Ukraine, which the Kremlin describes as a “special military operation.”

At the same time, Vladimir Putin noted the emergence of new opportunities for Russian business. But not only problems, they also create new opportunities for us. At the moment, there are conditions for large businesses that – let’s be honest – once feared sanctions: now they have nothing to fear. Now they can enter the peninsula, including the banks, and work in the region – he said.

The Russian leader also talked about the potential social and economic potential of Crimea and Sevastopol. In his opinion, it is necessary to focus on this “in the near and long-term”. Putin said – I would like to remind you that special programs for the socio-economic development of the peninsula have been implemented since 2015.

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Main image source: Reuters