LONDON: President Vladimir Putin said on Thursday (May 26) that he was glad some foreign companies had left Russia because home-grown businesses could take their place, and he warned the West that Moscow would still find ways to acquire advanced technology and luxury goods. Putin has cast the invasion of U
LONDON: President Vladimir Putin said on Thursday that he was glad some foreign companies had left Russia because home-grown businesses could take their place, and he warned the West that Moscow would still find ways to acquire advanced technology and luxury goods.
Since the war, a host of major foreign investors - ranging from BP to McDonald's Corp - have exited just as the Russian economy faces its worst contraction since the years following the turmoil of the Soviet collapse. "It will be a little more expensive for them but these are people who already drove Mercedes 600s and they will still do so. I can assure you they will bring them in from wherever, from whichever country.""We are not going to cut ourselves off from this - they want to squeeze us out a bit, but in the modern world this is simply unrealistic, impossible."
Western sanctions have stoked Russian inflation while snarling supply chains, though Putin said the country is coping well and that Russia is turning away from the West in favour of China, India and other powers.
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