“This is a sure sign of your successful work in Russia,” Russian President Vladimir Putin told a director from the country's Ministry of Energy.
Russian President Vladimir Putin has made light of western diplomatic and economic sanctions imposed on some of his compatriots, suggesting they are actually a mark of success for the businesspeople.
The U.S. and its western allies have introduced sanctions on a wide range of Russian business figures and lawmakers over Moscow’s continued involvement in the crisis in Ukraine. The U.S. has also sanctioned Russians over Moscow’s alleged meddling in the 2016 presidential election, while the U.K. introduced measures against prominent Russians after a chemical attack in the British city of Salisbury in 2018.
According to the Center for European Policy Analysis, Russia’s GDP at the end of 2017 was 1.8 percent lower than it would have been without sanctions. And Bloomberg estimates that the Russian economy has grown around 10 percent less over the last five years than would have been expected. Six percent of this was attributed to sanctions and the other 4 percent to the falling price of crude oil.
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