The 'Blitzkrieg' Failed, This is Obvious: Putin on Western Sanctions

The 'blitzkrieg' of Western sanctions against Russia has failed, and the country's financial system and industry are functioning. This was stated by Russian President Vladimir Putin, according to TASS news agency.

"The 'blitzkrieg' that our malefactors relied on has, of course, failed, this is obvious. Our financial system and industry are working rhythmically," said the Russian leader.

He noted that the Russian economy is functioning quite stable and effectively. "The Russian economy and financial system are standing firmly on their feet. I believe that the trend of maintaining macroeconomic indicators, along with the calm, rhythmic, and professional work of the economic block, will manifest itself in the near future," Putin stated.

According to him, there are certain issues today, but the authorities understand all the risks. "Of course, there are problems; otherwise, the Central Bank's interest rate would not have reached 20 percent. However, as you know, the Central Bank decided to lower the key interest rate, which overall corresponds to macroeconomic parameters," the president added, noting that in the medium and long term, risks related to sanctions could increase.