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Politics affects global economy rules, Moscow to draw lesson — Putin

January 21, 2015, 18:47 UTC+3 NOVO-OGARYOVO
Vladimir Putin is convinced that external restrictions only prompt Russia to make structural changes in the country’s economy
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Russian President Vladimir Putin at a meeting with government members

Russian President Vladimir Putin at a meeting with government members

© Yekaterina Shtukina/Russian government's press service/TASS

NOVO-OGARYOVO, January 21. /TASS/. The rules of the global economy are affected by politics, so Russia will draw a lesson from that and will be able to make its own economy more independent and dynamic, Russian President Vladimir Putin said Wednesday.

“We have made sure that despite external stability of international economic rules, in reality they are open to erosion under the pressure of political factors. To a certain degree, we even displayed certain naivety, believing that these are such fundamental principles of the global economy that are unshakable,” Putin said at a meeting with government members.

“This is to a certain degree a lesson to us too,” he said.

“This should actually push us toward raising our sovereignty in the sphere of economics, but, naturally, while remaining, as we have repeatedly stressed, an integral, natural, organic part of the global economy,” Putin said.

He said he is convinced that external restrictions only prompt Russia to make structural changes in the country’s economy. “Maybe they will just push us toward making this structure more energetic,” the president said.

Putin recalled that Russia has already gone through a crisis in 2008-2009. “The crisis was brought from outside then too. I will remind you that it started from the collapse of the mortgage system in the United States,” he said.

The Russian leader said that the changing situation on foreign raw materials markets is in essence one of the key reasons of the current situation in the Russian economy.

“If we speak of the so-called sanctions effect, I will recall that in the conditions of the 2008 crisis, I can’t remember someone willing to provide loans to Russian financial institutions either,” he said.

“On the contrary, there appeared so-called margin calls, and we solved the problem exclusively by our own means, first of all relying upon our development institutions and available reserves. Little has changed in this respect,” Putin said.

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