Russian President Vladimir Putin attends a plenary session of the St Petersburg International Economic Forum. Photo: Tass
Russian President Vladimir Putin attends a plenary session of the St Petersburg International Economic Forum. Photo: Tass
Russian President Vladimir Putin attends a plenary session of the St Petersburg International Economic Forum. Photo: Tass
Russian President Vladimir Putin attends a plenary session of the St Petersburg International Economic Forum. Photo: Tass

Putin declares efforts to 'hammer' Russian economy have failed


Paul Carey
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Russian President Vladimir Putin on Friday set a defiant tone as he delivered a speech about the state of his country's economy following a series of sanctions.

Mr Putin said that efforts to “hammer” the Russian had failed and gloomy forecasts for the Russian economy had not been fulfilled. He said that the country’s economy will overcome sanctions that he called “reckless and insane.”

Addressing the St Petersburg International Economic Forum, he said that sanctions are harmful to those that impose them, and predicted they could cost the EU more than $400 billion.

He began his 73-minute address with a lengthy denunciation of countries that he contends want to weaken Russia.

He said the US “declared victory in the Cold War and later came to think of themselves as God’s own messengers on planet Earth.”

He also attacked the West for blaming him personally for its economic troubles, claiming that negative trends in the global economy have not been caused by what he calls the “special military operation” in Ukraine.

In a combative speech at Russia's flagship annual economic forum, he said that Russia was not to blame for rising prices on the global grain market, accusing the US of driving up food prices by printing money and “snapping up” food on global markets.

Mr Putin said that Russia stood ready to boost its exports of grain and fertilisers, and that it would send food exports to Africa and the Middle East.

He pledged that Moscow would continue to develop as an “open economy” despite unprecedented western sanctions imposed after it sent forces into neighbouring Ukraine.

Mr Putin said Russia would keep dealing with western companies and that he hoped gas flows would increase via new routes.

He added that Russia would continue to expand economic co-operation “with those who want it”.

Mr Putin took the opportunity to be highly critical of the US, accusing it of treating other countries as “colonies”.

Amid a lengthy denunciation of the US and its allies, Mr Putin said: “Nothing will be as it used to be in global politics.”

He said the European Union had lost its “political sovereignty” by starting down a track that would lead to radicalism and changeover of elites, criticising the bloc's economic policies to address high inflation and inequality.

The three most powerful European leaders visited Kyiv on Thursday to give their backing to Ukraine's bid to join the EU.

Meanwhile, Russia's foreign ministry on Friday accused Brussels of “manipulating” Ukraine after the European Commission recommended the pro-western country be granted candidate status to join the 27-nation bloc.

“We see how for many years the western community has been manipulating the idea of some kind of involvement of Ukraine in their integration structures,” ministry spokeswoman Maria Zakharova was quoted as saying by Russian news agencies.

Ukraine, however, is getting “worse and worse”, she added.

The European Commission on Friday recommended that Ukraine, where Russia is conducting a military operation, and neighbouring Moldova each be named a “candidate” for joining the EU.

Formal “candidate” status for Ukraine could open up a years-long path towards joining the bloc, with the decision likely to be formalised at an EU leaders' summit in Brussels on June 23-24.

Ukrainian President Volodymyr Zelenskyy hailed the move, saying that he was “grateful” to EU chief Ursula von der Leyen and “each EC member for a historic decision”.

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Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

Champions League Last 16

 Red Bull Salzburg (AUT) v Bayern Munich (GER) 

Sporting Lisbon (POR) v Manchester City (ENG) 

Benfica (POR) v Ajax (NED) 

Chelsea (ENG) v Lille (FRA) 

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Villarreal (ESP) v Juventus (ITA) 

Inter Milan (ITA) v Liverpool (ENG) 

Paris Saint-Germain v Real Madrid (ESP)  

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The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

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Power: 450hp

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11 cabbie-recommended restaurants and dishes to try in Abu Dhabi

Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)

Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)

Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)

Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).

Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)

Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)

Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)

Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)

Pinky Food Restaurant in Tanker Mai for tilapia

Tasty Zone for Nepalese-style noodles (Dh15)

Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)

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TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

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Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

The schedule

December 5 - 23: Shooting competition, Al Dhafra Shooting Club

December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq

December 11 - 20: Dates competition, from 4pm

December 12 - 20: Sour milk competition

December 13: Falcon beauty competition

December 14 and 20: Saluki races

December 15: Arabian horse races, from 4pm

December 16 - 19: Falconry competition

December 18: Camel milk competition, from 7.30 - 9.30 am

December 20 and 21: Sheep beauty competition, from 10am

December 22: The best herd of 30 camels

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

While you're here
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The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

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Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Pathaan
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Updated: June 17, 2022, 3:01 PM`