Sanctions Against Russia Have Caused an Unprecedented Crisis and Inflation in the West: Putin

New sanctions imposed by European and American politicians have led to an unprecedented crisis in the West. This was stated by Vladimir Putin during a meeting dedicated to Arctic development, as reported by RIA Novosti.

“The refusal of a number of Western countries to engage in normal cooperation, including that related to Russian energy resources, has already impacted millions of Europeans and has sparked a real energy crisis, which is, by the way, first reflected in the United States. Prices and inflation are rising everywhere, which is absolutely unprecedented for a number of countries,” the president noted.

The president mentioned that Russia is certainly facing challenges as well, but sees this as a chance for new opportunities and alternatives to emerge. According to the country's leader, it will be possible to increase the domestic consumption of oil, gas, and coal, promote deep processing of raw materials, and enhance energy supplies to other regions of the world.