Vladimir Putin Slams West Amid Russia-Ukraine War, Calls Sanctions a 'Declaration of Economic War'

President Vladimir V. Putin of Russia adopted a tough tone on Wednesday, stating that the West had failed in its economic, financial, and technical assault against Russia and that his nation had only benefited from the worldwide outrage over his invasion.

Putin's speech was dismissive of the human losses Russia has suffered since launching an invasion in February. His own Defense Ministry has confirmed hundreds of deaths, albeit this figure has not been updated in months.

Putin Vows To Press on in Ukraine

Western figures are significantly higher: the US estimated last month that 80,000 Russian servicemen had been killed or injured in the conflict. Putin also stated that he will meet with an increasingly crucial partner, Chinese President Xi Jinping, next week, as the Russian leader seeks to develop economic connections with Asia to offset the effects of Western sanctions.

Putin also argued that the invasion, now in its seventh month, had enhanced Moscow's international standing and that a crackdown on dissent was ridding the country of harmful individuals, including journalists who had fled the country since the conflict began.

Additionally, Putin reaffirmed his belief that efforts to topple an unjust world order ruled by the United States had culminated in the conflict in Ukraine. He asserted that Western countries were making an effort to restore a past international order that is profitable only to them.

In Ukraine, where they have been unable to seize a significant town for more than two months, Putin's soldiers are facing an increasingly challenging situation at the front lines. Ukraine is launching a counteroffensive, which its leaders claim is beginning to succeed, as per New York Times.

In his speech to the Eastern Economic Forum in the port city of Vladivostok in the Russian Pacific, Putin said that Russia had benefited and would emerge revitalized. However, he did admit that both the globe and Russia had experienced "some degree of polarization" as a result of the battle.

On February 24, Russia launched tens of thousands of troops into Ukraine as part of what it described as a special operation to weaken that country's military prowess and flush out what it deemed to be dangerous nationalists.

Putin did not consider NATO's massive troop buildup in eastern Europe or its upcoming admittance of Sweden and Finland as members when evaluating Russia's advantages. One of his stated goals for becoming involved in Ukraine was to stop the NATO alliance from growing.

Putin Brushes Off Western Sanctions' Impact on Russia

Additionally, he disregarded the effects of sanctions, which have prevented the Russian economy from accessing vital supplies like microchips, cut off Russians from global payment systems, and forced thousands of Western businesses to leave.

He predicted that this year's economy will shrink by around 2% or a bit more, and the budget would be in excess. In July, Putin, who will turn 70 in October, warned the West that the conflict in Ukraine was just getting started and dared the United States, which has an advantage over Russia in terms of economic might and conventional military might, to try to topple Moscow.

The most severe sanctions against Russia for its actions in Ukraine were put in place by the United States and its allies. According to Putin, the sanctions amount to an economic war declaration, according to Gazettengr. In August, US authorities estimated that Russia had lost 70,000-80,000 soldiers in less than six months. The US, along with other Western countries, is heavily funding Ukraine. According to accounts, some soldiers protested by leaving the service.

While it's unknown how strong the resistance is, the war is said to be dividing Russia. Over the spring, Russia implemented laws making references to the conflict in Ukraine-which Putin refers to as a special military operation criminal, and it has repressed protestors. More than 13,000 Russians who were protesting the war were detained between late February and early march.

Wednesday's economic roundtable, a significant occasion for commerce and international investment in Russia, saw Putin downplay the numerous Western sanctions imposed on his nation. The Russian leader also said that the United States and its allies were slipping on the international stage because the dollar and the currencies of Europe have lost value as a result of the nation's high rates of inflation.

In comparison to an increase of 8.5 percent in the US, the European Council projected last month that Russia's inflation rate increased to 22 percent. Additionally, the council said that both exports and imports of goods had decreased by more than 30% in Russia.

Putin countered that his country was "overcoming financial and technological attack from the West and that the West was moving downward while Russia was moving forward, The Hill reported.