On the fifteenth day of the Russian invasion of Ukraine, President Vladimir Putin faced strong reactions and numerous warnings. This is after the world continued to pressure the country with other reactions.
US President Joe Biden confirmed Tuesday afternoon that the United States is banning the import of Russian oil. According to Reuters, the punishment, which Putin now describes as illegitimate.
“Russia is committed to its obligations on energy supplies,” President Vladimir Putin said at a cabinet meeting after the ban was announced.
The president did not stop there.
Putin has three options
– Prices will go up
Putin says that Western sanctions against Russia are not legitimate and that Western governments are deceiving their people.
The Russian president believes that Russia should solve its problems in a calm manner.
“It is clear that people’s demand for certain product groups is always increasing at such moments, but we have no doubts that we will solve all these problems while working calmly,” Putin said.
The president also strongly warns of a significant increase in fertilizer prices.
according to TASS news agencyPutin reportedly said that blocking the supply of Russian fertilizers would have serious consequences for the world, as well as oil, gas and minerals.
Russia and Belarus are among the largest suppliers of mineral fertilizers to world markets. If we continue to create problems in the financing of this business, in insurance, logistics and the delivery of our goods, the prices are already exorbitant and will increase even more, according to the state-owned news agency.
– Now it’s getting worse
Fertilizer is a very important area. He added that there is a very acute situation developing in the world.
The president said that Russia has agreements with “friendly” countries to meet its fertilizer needs.
“Even before some of the incidents related to Ukraine, it was already difficult, and now it is getting worse,” Putin said.
The warnings don’t stop there either.
“International food prices will rise even more if Western countries increase economic pressure on Russia, as a major global producer of fertilizers,” the president said.
At the same government meeting, Russia’s Agriculture Minister, Dmitry Patrushev, said that Russia’s food security had been guaranteed and that Moscow would continue to serve its export commitments to global agricultural markets, according to Reuters.
The issue continues below the graphic.
The West is fighting an economic war
Putin says Russia will emerge stronger from this, and become more independent after overcoming the difficulties of what he calls “the West’s illegal sanctions”.
According to the president, there should be no alternative to a “special military operation” in Ukraine, and the country could not accept a “relinquishment of its sovereignty” for short-term economic gain.
“These sanctions would have been imposed in any case,” Putin said at a meeting with the Russian government, adding:
– There are some questions, problems and difficulties, but we have already overcome them and we will overcome them.
Putin has no way out
It is said that the country has started measures to limit the outflow of capital and will service the external debt in rubles, according to Finance Minister Anton Siluanov.
“During the past two weeks, Western countries have launched an economic and financial war against Russia,” Reuters quoted Siluanov as saying.
By freezing gold and foreign exchange reserves, the West is believed to have breached its obligations to Russia.
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