US responds to Putin ‘desperate’ after he accuses US of ‘dictatorship’
Participants gather near a screen projecting Russian President Vladimir Putin, who delivers a speech at the St.Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022.
Anton Vaganov | Reuters
The White House has hit back at Russian President Vladimir Putin after he repeatedly lashed out at the US and the Western world in a wide-ranging speech.
Mr Putin said international sanctions imposed on Russia after the unprovoked invasion of Ukraine were a “danger” to the world. He added that the US is willing to sacrifice Europe, which is experiencing a cost-of-living crisis as energy prices soar as the war continues, to maintain what he called its global “dictatorship”.
Speaking at the Eastern Economic Forum in Vladivostok on Wednesday, Putin criticized the West, criticizing the United States for blaming it for the economic pain that sanctions on Russia are causing Europe and beyond. more as global food and energy prices rise.
Washington defended its stance on Russia, which is widely condemned by the West for continuing its war with Ukraine, with a State Department spokesman telling CNBC in emailed comments that “measures Sanctions and export controls are working and President Putin is desperate to convince the world otherwise.”
“Despite President Putin’s comments at the Eastern Economic Forum, Russia is paying a heavy price for its all-out war in Ukraine, which continues to lead to high costs – tens of thousands of Russian soldiers lost their lives. lives, 14 million Ukrainian citizens were forced to flee. homes, historic cities were smashed to rubble – all because of Putin’s determination to conquer another country,” they added.
According to a Russian foreign ministry spokesman, Russian policymakers – including the finance minister – have acknowledged that the sanctions have posed the country serious challenges. “The Russian economy is vulnerable to cuts from the global economy and will inevitably suffer a continued decline in economic activity. Putin’s war is predicted to wipe out much of the economic gains.” of Russia over the past 15 years.”
The spokesman noted that the Russian government is being forced to spend more and more to boost its economy, adding that official Russian sources have put the country’s budget deficit over 15 billion USD in July only.
Putin has sought to ease sanctions by turning to India and China to sell their oil. Reuters reported in August that the Russian Economy Ministry plans to Higher oil exports, coupled with rising gas prices, have boosted Russia’s income from energy exports to $337.5 billion this year, up 38% in 2021.
On Wednesday, Putin said Russia would announce a budget surplus this year, but acknowledged that growth was suffering and gross domestic product would fall “about 2% or a little bit more”.
Russia’s central bank has gloomier expectations for the economy as winter approaches, forecasting a deeper contraction (7%) in the third quarter, after a 4.3% contraction in the second quarter, Reuters said last month citing a report from the central bank. The bank expects the economy to begin to recover in the second half of 2023. Annual inflation was at 15.1% in July, higher than the EU rate of 9.8% in the same month.