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Putin admits sanctions may hurt Russia’s economy

by The Kyiv Independent news desk March 29, 2023 6:03 PM 1 min read
Russian President Vladimir Putin chairs a meeting with the government via a video link at the Novo-Ogaryovo state residence outside Moscow on March 29, 2023. (Photo by Gavriil Grigorov/Sputnik/AFP via Getty Images)
This audio is created with AI assistance

Russian dictator Vladimir Putin admitted that Western sanctions imposed on Russia due to its invasion of Ukraine could negatively affect the country’s economy, as reported by the Russian state-controlled RIA Novosti agency on March 29.

Putin made comments at a meeting with the members of the Russian government, according to RIA Novosti.

The sanctions "can really have a negative effect on the economy," Putin said. "In this regard, we need to ensure a sustainable increase in domestic demand."

Putin has previously repeatedly claimed that sanctions imposed on Russia had not affected the country's economy.

On Feb. 25, the European Council announced that it had adopted the 10th package of sanctions against Russia and those who support its war against Ukraine.

"Today's 10th package of sanctions targets those who are instrumental in the continuation of this brutal war. We are taking more measures, tackling the banking sector, access to dual-use technology and advanced technologies," the European Union's top diplomat Josep Borrell said.

"We remain united in our determination to dent Russia's war machine," Borrell wrote on Twitter.

Agriculture Minister: Russia’s grain corridor sabotage could lead to higher food prices
Editor’s Note: This interview has been edited and condensed for clarity. Russia’s blockage of Ukrainian seaports triggered a global food crisis. The global food crisis was partially resolved in July when an UN-backed grain deal was reached, forcing Russia to unblock three ports in Odesa Oblast for…
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ISW: Russia holds offensive initiative.

"Russian forces have regained the theater-wide initiative and will be able to pursue offensive operations when and where they choose as long as they hold the initiative," the ISW said.
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