Echoing the comments of the Chair of the Bank of Russia, Elvira Nabiullina, he said “The economy will adjust to life and work in the conditions of the low oil prices. If prices will be low — $60 per barrel, $40 per barrel even, the figure doesn’t matter — the economy will restructure. The question is how quickly the adjustment will happen.”
Putin said western sanctions accounted for about 25-30 per cent of its problems, accusing western governments of attempting to “chain the bear”.
“If they take out the bear’s fangs and claws the bear will not be able to do anything. It will just be a stuffed animal. What we’re trying to do is maintain our sovereignty,” he said.
(via FT)
Should Russia put the Ruble on the gold standard?
ReplyDeleteThat sure would rattle the cages of the western central bankers.
Imagine a US Politician speaking truth like this...
ReplyDelete