Russia President, Vladimir Putin, says the country will develop as an open economy, and will never step along a path to isolation, despite the unprecedented sanctions imposed by the West following Moscow’s invasion of Ukraine.
President Putin says Russia will keep dealing with Western companies and that he hopes gas flows will increase via new routes.
Mr Putin adds Russia will continue to expand economic cooperation “with those who want it”.
President Putin says sanctions are more harmful to those who impose them.
Mr Putin says the European Union could lose more than $400 billion because of sanctions on Russia.
President Putin adds the European Union has lost its “political sovereignty” in its response to the war in Ukraine.
Mr Putin says inflation is increasing in EU countries and adds that inequality will only increase as a result of the sanctions.
President Putin says the real interests of people in Europe are being side-lined.
Referring to fears of a global food crisis triggered by the war in Ukraine, he claims Russia is capable of significantly increasing its exports of grain and fertilisers.
President Putin says grain exports alone could rise to some 50 million tonnes.