Putin expects sanctions on Russia to only increase
October 7, 2022 - Almost eight months after it began its invasion of Ukraine, Russia now has well over 12,000 sanctions imposed against it – more that three times as many as the second highest country, Iran.
Russian President Vladimir Putin says consumer demand remains weak and that he expects sanctions on Russia’s economy to only intensify.
The West hit back at Moscow with punitive sanctions after Russia invaded Ukraine on February 24, in what it calls a “special military operation”.
However, the Russian economy has defied predictions by Western analysts of a 15% hit to gross domestic product in 2022, with the Russian Economy Ministry stating a 2.9% contraction is most likely.
Western leaders will be hoping the impact of sanctions will be long-lasting, and hold back the Russian economy for many years to come.