Statements by Russian President Vladimir Putin about Russia’s economic resilience and the opportunities allegedly created by sanctions do not reflect the country’s actual economic situation, according to Ukraine’s Presidential Commissioner for Sanctions Policy, Vladyslav Vlasiuk.
Speaking to Ukrinform, Vlasiuk challenged Putin’s remarks at the St. Petersburg International Economic Forum.
“At SPIEF, Putin traditionally speaks about a ‘stable future,’ expanded opportunities created by sanctions, and new partnerships. But if we set aside the political slogans and look at the numbers, the picture is the opposite. Contrary to the optimistic rhetoric of Russia’s leadership, Russia is steadily acquiring the status of a ‘failed state.’ While the Kremlin talks about economic resilience, Russian budget revenues have fallen by 40% compared to last year, despite high oil prices. Meanwhile, the budget gap has already exceeded $80 billion,” Vlasiuk said.
He emphasized that while Putin criticizes Western countries for running budget deficits, 71 of Russia’s 85 regions ended last year with budget shortfalls, with their combined deficit surpassing $34 billion.
“Putin claims that sanctions have given Russia a ‘broader room for maneuver’ and created new partnerships. Yet the best indicator of confidence is investment. Today, the share of foreign capital in Russia stands at just 0.01%,” Vlasiuk noted.
