Russia doesn’t need to beg for funds abroad thanks to healthy balance sheet. — Putin
Days before the first anniversary of the beginning of the war in Ukraine, President Vladimir Putin announced in an address to his nation on Tuesday (February 21) that Russia is suspending its participation in the New START, the last remaining major military agreement with the United States.
Russia does not need to borrow and “beg” for funds abroad thanks to a robust balance sheet, Russian President Vladimir Putin said in his State of the Nation Address to the Federal Assembly on Tuesday.
“New sources of financing and investment are the most important issue on the agenda for developing economic growth. We also talk about this a lot. Thanks to a strong balance of payments, Russia does not need to borrow abroad, bow down, beg for money and then have a long dialogue about what, how much and on what conditions to give back,” Putin said.
He added that Russian banks are operating steadily and the volume of bank loans to the corporate sector in 2022 increased by 14% compared to 2021.
Recent events proved that the West’s image as a safe haven for capital was just an illusion, Russian President Vladimir Putin said in his State of the Nation Address to the Federal Assembly on Tuesday.
“Recent developments made it perfectly clear that the West’s image as a safe haven and a shelter for capital has turned out to be an illusion. Those who failed to understand this in time, who viewed Russia only as a source of income and planned to mostly reside overseas, lost a lot. They were simply robbed there and even their legally earned money was taken from them,” Putin noted.
According to the Russian president, his prediction that Russian businessmen will have “to swallow the dust” trying to save their money came true. Putin called on Russian entrepreneurs to make money at home, adding that there was no point trying to retrieve any assets of theirs that had been frozen overseas.
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