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Sanctions will not hamper Russia’s partnership with other countries, vows Putin

Vladimir Putin also said that positive trends remained in place in many areas of cooperation

SINGAPORE, November 15. /TASS/. Politically motivated economic restrictions are harmful, particularly to those who impose them, but they will not hamper Moscow’s partnership with other countries, Russian President Vladimir Putin said at a press conference following the East Asia Summit.

"Any politically motivated restrictions, which affect the field of economy, hinder economic development. They hamper our activities and the activities of our partners, including even those who introduce these sanctions," Putin said. "However, it cannot hinder development, it is out of the question, it is impossible," the Russian president added.

Putin stressed that sanctions pressure could prevent neither technological nor economic development. "This is the reason why cooperation will go on," he noted. "I have already said today that Asian countries account for about 25% of our trade," Putin added. According to him, in 2017, trade grew by 27%, or around $200 bln.

The Russian head of state also said that positive trends remained in place in every field, including high technology. "For instance, you see Singapore promoting the idea of ‘smart cities’. And where do smart cities come from? They are based on high technologies, including digital ones," Putin said.

He pointed out that the Eurasian Economic Union (EAEU) had already signed free trade agreements with Vietnam and China, while talks on free trade agreements were underway with India and Singapore.