Putin tells Russia’s billionaires to step up in face of ‘sanctions battle’

Russian President Vladimir Putin advised Russia’s billionaires to step up within the face of what he known as a “sanctions battle” from the West, throughout an annual assembly of the Russian Union of Industrialists and Entrepreneurs.

CNN reported that Putin blamed Russia’s latest drop in GDP on mounting sanctions over its yearlong battle on neighboring Ukraine, telling Russia’s enterprise elites that “these issues… weren’t created by us.”

“It was 4.7% (GDP drop) for well-known causes, as you understand — the sanctions battle, the unprecedented challenges from the worldwide financial system and within the system of worldwide relations,” Putin mentioned, per CNN,

Numerous Russian businesspeople, oligarchs, officers and monetary establishments have been hit with sanctions from the U.S. and other Western nations because the begin of the battle.

The Russian president known as on the viewers, whereas included a lot of outstanding billionaire oligarchs, to speculate on their residence turf to assist increase the nation’s financial system.

“A accountable entrepreneur is an actual citizen of Russia, of his nation, a citizen who understands and acts in its pursuits,” Putin mentioned, as reported by Reuters. “He doesn’t cover property offshore, however registers corporations right here, in our nation, and doesn’t turn into depending on international authorities.”

Each shops famous it’s Putin’s first in-person assembly with the highest enterprise leaders since Moscow invaded Ukraine on Feb. 24, 2022.

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