Putin bids a sarcastic goodbye to western firms exiting Russia . Bye all the best a nonchalant Putin tells foreign businesses .
Vladimir Putin waved a sarcastic farewell to foreign businesses leaving Russia . The Russian president said there departure will only benefit Russian companies . While speaking to the senior Russian officials during a meet that was broadcast on state television .
Putin said that those companies had suffered major losses as a result of quitting such a large and lucrative market in Russia . All the best to them Putin said as he briefly waved his hand up in the air . Amid western efforts to punish Russia in the form of sanctions Putin said that nothing had collapsed rather companies were working very successfully .
Putin sarcastic goodbye to western brands
Today many of them under pressure from their governments are leaving our market. All the best to them . Nothing in Russia has collapsed and nothing is falling apart . Our companies and entrepreneurs are picking up these enterprises and even entire sectors and continue this work very successfully. ( Russian President Vladimir Putin)
Scores of western companies from energy producers to food and clothing chains have left Russia amid unprecedented sanctions imposed by western countries . Some departed firms have sold their assets to local investors reuters reported.
US and Allies have tried to cut Russian banks from swift financial network and tried to restrict Moscow access to technology and ability to export oil . Yes the Russian economy seems to have remained resilient even as the sanctions have boomeranged against the west driving up inflation and energy prices .
Why sanctions have failed ?
Fewer than 9% of companies based in EU OR G7 nations have divested one of their Russian subsidiaries . Maritime tracking firms show a surge in activity by shipping fleets helping Russia exports its energy. Western countries have not banned shipment of consumer products like cell phones and washing machines . Several countries have difficulties reducing reliance on Russia for energy and other basic commodities . Russian central bank has managed to prop up the value of the Ruble and keep financial markets stable . IMF says Russian economy will grow 0.3% this year-a big improvement from previous estimate of a 2.3% contraction .
0 Comments