Russia bets on sovereign economy with unity, Putin assured

St. Petersburg, Russia, Jun 16 (Prensa Latina) Russia is betting on an open stance of its economy without self-isolation with directions towards sovereignty, President Vladimir Putin assured at the plenary session of the XXVI St. Petersburg International Economic Forum (Spief).

June 16, 2023
14:26

Putin called the second quarter of 2022 the “most difficult period for the country’s economy” as a result of Western pressures on business and hindrances to the financial system.

He highlighted the expansion and diversification of Russian trade beyond energy revenues on the international market, along with the strengthening of trade with nations that did not yield to Western impositions.

According to the Russian leader, about 90% of Russia’s settlements with UEE countries are made in rubles, while more than 80% of transactions with China are made in rubles and yuan.

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