Putin said the main risk from sanctions against Russia

Stating that sanctions against Russia do not affect its economy, do not correspond to reality, said the President of the country Vladimir Putin during the investment forum VTB Capital “Russia calling!”. According to him, restrictive measures have a negative effect.

“We often repeat the mantra that the so-called notorious sanctions on us is not really affected. Affect. And above all, the threat I see to limit the transfer of technologies”, — said Putin.

The President stressed that the sanctions harm “not only the Russian economy but the global economy as a whole.” “Because the Russian economy is an important sector of the world economy. So those who do are hurting themselves in the end”, — said Putin. He also promised that Russia will cope with this problem.

In his speech Putin also said that Russia in recent years has achieved sustainable macroeconomic stabilization. He reminded about low inflation and that the budget was reduced with a relatively small deficit of 3%. The Russian authorities must achieve “a new quality of growth” of the economy, to support initiatives to create new jobs, increase productivity and promote the use of new technologies.