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Sanctions backfire on those imposing them — Putin

The President stressed that Russia’s trade is growing and its macroeconomy is stable

ST. PETERSBURG, June 16. /TASS/. All attempts at sanctions wind up backfiring on those who impose them, Russian President Vladimir Putin said on Friday.

"All attempts at imposing artificial restrictions lead to a situation where they begin to tell on those who impose them," he said at the St. Petersburg International Economic Forum (SPIEF). "We cannot be happy with that but this will not give way to circumstances that hamper our development."

He stressed that Russia’s trade is growing and its macroeconomy is stable. According to the president, the Russian economy has been growing since the second quarter of 2022. "Now it is 3.3% Of course, by the end of the year, it will be adjusted, but it will be 1.5-2% But, in general, we would like to be like Algeria - four percent or more. Or like India - they are the leaders now," Putin said.