Last updated on October 14th, 2022 at 03:45 pm
Vladimir Putin, Russia’s President, has repeatedly accused the West of precipitating a global economic crisis and a wave of crippling inflation by imposing the harshest sanctions in recent history in response to Russia’s aggression towards Ukraine.
He also stated that Western “elites” are willing to “sacrifice” the rest of the world in order to maintain their power.
In a speech delivered during a Russian energy forum on Wednesday, the President’s assessment of the macroeconomy remained unchanged, declaring that the global economy was in an “acute” crisis.
There is no denying that countries all over the world are going through difficult economic times. Inflation has been rising across the globe, prompting central banks to intervene.
JPMorgan CEO Jamie Dimon recently issued a similar warning about a possible recession for the US economy and global economies in the next 6–9 months.
In his speech, President Putin emphasized the importance of energy, stating that Russia is ready to resume energy supplies to Europe via a Baltic Sea link of the German-bound Nord Stream 2 pipeline.
Russia’s economy has suffered as a result of a barrage of sanctions imposed on it following its invasion of Ukraine in February. The country has since resorted to employing digital assets such as cryptocurrencies to circumvent the financial blockades created by the sanctions.
In January 2022, Russia’s President, Vladimir Putin, urged Russian government institutions to agree on cryptocurrency regulations this year, highlighting Russia’s potential as a coin-minting country. In August, Mikhail Mishustin referred to digital assets as a “safe alternative” for international payments.
These allegations by Putin come barely a month after the Russian Prime Minister, Mikhail Mishustin, directed the Russian Ministry of Finance to prepare, in collaboration with the Bank of Russia, and submit specific proposals for the future of the digital financial asset (DFA) market in the Russian Federation by December 1, 2022.
According to RBC Crypto, the directive was issued by the Russian government’s top official following a meeting on the country’s financial system.
“Under the current circumstances,” the principal official emphasized, “DFAs can enable continuous payments for goods imports and Russian exports.”
The finance ministry and the central bank have been tasked with updating Russia’s “Strategy for the Development of the Financial Market Until 2030.”
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