Vladimir Putin argues that Russia’s economy will survive the economic sanctions imposed after the invasion of Ukraine

The president of Russia denounced the countries that, according to him, want to weaken the nation, including the United States

ST PETERSBURG, Russia — President Vladimir Putin said Friday at an investor conference that showcases the Russian economy that the nation will overcome Western sanctions he called “reckless and insane. ”

Russia has been subject to a wide range of sanctions since it invaded Ukraine in February. Hundreds of foreign companies suspended their operations or withdrew from the country.

Putin began his speech at the International Economic Forum in St. Petersburg with a lengthy denunciation of the countries he says want to weaken Russia, including the United States.

He said the United States “declared itself victorious in the Cold War and then came to see themselves as God’s messengers on Earth.”

On Western sanctions, he assured that the attempt to harm the Russian economy “did not work”.

“Russian companies and government authorities worked competently and professionally,” he said. “We are normalizing the economic situation. We stabilize the financial markets, the banking system, the trading system.”

The projected inflation rate has fallen slightly, but is currently at 16.7% a year and is still too high, he admitted.

In another passage, Putin strongly defended his country’s actions in Ukraine, which he said posed a threat to Russia because it wanted to join the NATO military alliance.

“In the current situation, against a background of increasing risks and threats, Russia’s decision to conduct a special military operation was forced,” the Russian president said. “It was hard to take it, but it was forced and necessary. It was a decision of a sovereign country that has the unconditional right, under the UN Charter, to defend its security.”

Putin predicted Russia’s victory in Ukraine after more than 16 weeks of fighting.

“All the objectives of the special military operation will certainly be achieved,” he said. “This is predetermined by the courage and heroism of our warriors, the consolidation of Russian society, whose support gives strength and confidence to the Russian Army and Navy, the deep awareness of the rightness and historical justice of our cause, the construction and reinforcement of Russia as a strong and sovereign power”.