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Putin attacks the West: ‘Idiots, they damage themselves to spite us’

The Russian president accuses Western countries of crippling their economies with sanctions. Moscow will decide who can re-enter the Russian market

The West “is slipping into recession just to spite Russia”. This was the accusation made by Vladimir Putin during a meeting with the Association of Russian Entrepreneurs. The Russian president called Western governments ‘idiots’ for imposing sanctions, which he said do more harm to those who impose them than to Moscow itself. ‘It’s like me buying a ticket and then not using it to spite the ticket inspector,’ the “tsar” joked.

Putin urged Russian business leaders to prepare for new similar decisions by the West, reiterating the need to ‘minimise negative consequences’ and defend ‘independence and economic sovereignty’. ‘Everything is interconnected in the modern world, but there are key factors that allow us to remain independent,’ he stressed.

The Russian president then spoke about the possible return of foreign companies to Russia, specifying that Moscow will dictate the rules. “If there is value creation for us, they can come back. If they do not suit us, we will be able to cite a thousand reasons to keep them out. Of those thousand, 999 will comply with the rules of the World Trade Organisation. And for the remaining reason, we are ready to defend it in the courts. For at least 15 years,’ he said addressing the Russian Confederation of Industry.

Putin thus made it clear that only those companies that can offer a concrete advantage to Russia will be able to re-enter the market, while for the others formal and legal obstacles are expected.

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