Putin Addresses Economics Meeting; ‘Economic Blitzkrieg’ Against Russia Has Failed

April 18, 2022 (EIRNS)—Today Russian President Vladimir Putin held a meeting on “economic issues,” as a video-conference, with seven top leaders. In his opening remarks, he said that the “pressure from sanctions has been the main negative effect for the economy lately.” But, “this policy has failed in Russia. The strategy of unleashing an economic blitzkrieg has been ineffective. Moreover, the sanctions affected those who initiated them. I am referring to higher inflation and unemployment, and the worsening economic outlook for the United States and European countries, as well as the declining living standards of Europeans and the depreciation of their savings.”

Attending the meeting were Prime Minister Mikhail Mishustin; Chief of Staff of the Presidential Executive Office Anton Vaino; First Deputy Prime Minister Andrei Belousov; Presidential Aide Maxim Oreshkin; Minister of Economic Development Maxim Reshetnikov; Minister of Finance Anton Siluanov; and Central Bank Governor Elvira Nabiullina.

Putin spoke of various conditions in Russia, including the high inflation rate, saying, “we must help our citizens deal with this wave of inflation. In this context ... a decision has been taken to adjust all social benefits, pensions and wages in the public sector, in accordance with inflation. The parameters of this adjustment are to be prepared by the government.”

After describing other aspects of the economy, including pledging to accelerate the growth rate, provide for new jobs and develop industry, he said, “Overall, the current situation is stable in this regard, as we can see from the electricity production index. This indicator is very good, which points to the dynamic development of the economy....”