Minsk - Saba:
Russian President Vladimir Putin affirmed on Friday that the new sanctions imposed by the European Union on Moscow are unlikely to have a significant impact on Russia.
During a press conference in Minsk, Putin stated, "I don’t see anything that would benefit the European economy. We will see if it causes any harm to us based on how events unfold, but I don’t believe it will have a major impact on us."
He added, "The more sanctions they impose, the more the people of the countries imposing them will suffer. This applies to France and to the European economy as a whole."
Putin continued, "We are planning to reduce defense spending. We are making plans for next year, the year after, and the next three years."
He noted that a final agreement has not yet been reached between the Ministry of Defense, the Ministry of Finance, and the Ministry of Economic Development, but generally, everyone is considering this direction. "Europe, on the other hand, is thinking about how to increase its spending."
Regarding defense expenditures, Putin said, "Is 6.3% a large or small proportion? 6.3% of Russia’s GDP is allocated for defense needs. This amounts to 13.5 trillion rubles, while our total GDP is 223 trillion rubles. So, is 13.5 trillion out of 223 a large or small share? No, it’s not small."
The Russian president is visiting Minsk on the 26th and 27th of this month to participate in the Eurasian Economic Union summit.
Russian President Vladimir Putin affirmed on Friday that the new sanctions imposed by the European Union on Moscow are unlikely to have a significant impact on Russia.
During a press conference in Minsk, Putin stated, "I don’t see anything that would benefit the European economy. We will see if it causes any harm to us based on how events unfold, but I don’t believe it will have a major impact on us."
He added, "The more sanctions they impose, the more the people of the countries imposing them will suffer. This applies to France and to the European economy as a whole."
Putin continued, "We are planning to reduce defense spending. We are making plans for next year, the year after, and the next three years."
He noted that a final agreement has not yet been reached between the Ministry of Defense, the Ministry of Finance, and the Ministry of Economic Development, but generally, everyone is considering this direction. "Europe, on the other hand, is thinking about how to increase its spending."
Regarding defense expenditures, Putin said, "Is 6.3% a large or small proportion? 6.3% of Russia’s GDP is allocated for defense needs. This amounts to 13.5 trillion rubles, while our total GDP is 223 trillion rubles. So, is 13.5 trillion out of 223 a large or small share? No, it’s not small."
The Russian president is visiting Minsk on the 26th and 27th of this month to participate in the Eurasian Economic Union summit.