Putin condemns ‘mad and thoughtless’ western sanctions

Russian president claims EU alone might end up losing more than $400bn because of sanctions imposed on Moscow

Russian president Vladimir Putin has condemned the sanctions placed on it by western countries in the wake of Moscow’s invasion of Ukraine.

“The economic blitzkrieg against Russia had no chance of succeeding from the very beginning,” Mr Putin said at a forum in St Petersburg on Friday, adding that the sanctions were “more harmful” to those who imposed them. He sought to reassure Russians that Moscow was capable of overcoming the “mad and thoughtless” sanctions.

Many western countries have imposed restrictions on Russia in order to strike a balance between punishing the nation for its war on Ukraine and protecting their own economies and interests.