ST. PETERSBURG, June 16. /TASS/. The second quarter of 2022 became the most difficult period for the national economy but the strategy selected at that time did work, President Vladimir Putin said.

"Exactly the second quarter of the last year became the most challenging for our economy, for the national business, when circumstances, the habitual order of trade, payments and logistics were changing swiftly, and when essentially the entire fabric of the business and economic life was altered. It can be confidently stated at present that the strategy chosen at that time by the government and by the business of Russia worked," the President said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"What we are doing in our economy at the moment, in my opinion, can be applicable in other countries also and this will only reinforce opportunities for our interaction," Putin added.