The country remains open for business with those who want it despite the sanctions that have barred Russian banks from international payments systems.
According to a translation, Putin said that the economic onslaught against Russia was doomed from the start. In World War II, a surprise attack of overwhelming force was used.
They have failed. He said that they didn't succeed.
Putin accused the West of being arrogant and of being responsible for the deaths of thousands of people in the Ukrainian conflict.
The decision to launch our special military operation was something that we were forced to do, they forced our hand, but it was still a difficult one.
The goals of the special military operation will be completed in full, according to Putin.
Russia's president has long pushed back against what he sees as the expansion of the West, using it as one of the justifications for his internationally condemned invasion of Ukraine.
The worsening global economic landscape was caused by false accusations that the war in Ukraine was to blame, according to Putin.
The idea that Russia's war could have a negative effect on the U.S. economy was dismissed by Putin as "flattering".
He said that they would be flattered to hear that they could drive inflation to the sky in the U.S. It is not true.
He said the worsening energy crisis in Europe was caused by failures in the region's energy policy. Europe has traditionally been a major importer of Russian oil but has stopped doing so since the war began.
This has been going on for a long time, and they are blaming us. He said that they made their prices go up and blamed them.
He claimed that the European Union could lose more than $400 billion because of the sanctions.
At a time when Russia remains isolated from the West due to its invasion of Ukraine, his comments to an audience of business leaders came at a good time.
Corporate and political leaders went to Putin's hometown for the forum in which Russia sought to promote its economy and attract investors before the war.
Many Western businesses have left Russia because of the war in Ukraine. Russia still enjoys a close relationship with China and India even though it is under international sanctions.
Russia launched a full-scale invasion of the country on February 24, claiming to de-Nazify and de-militarize the country.
After invading from the north, east and south, it became clear that Russia had bitten off more than they could chew. Moscow said it would pull back from the capital of the country to focus on the liberation of the eastern part of the country.
Russia has made slow but steady progress in seizing territory in the east and southeast of Ukranian since it shifted its strategy.
Questions are starting to be asked of governments over how long they will continue to provide support to Ukraine.
What will happen if Russia takes the whole of the Donbas? The peace talks between Russia and Ukraine did not start until after the conflict began.
Russia is state-building in the territories it occupies, handing out passports to residents in Kherson and Melitopol and planning referenda to join Russia. Any referenda would be a sham and illegal according to the Ukranian government.
Russia could attempt a further invasion of Ukraine at a later point if it were able to seize a corner of the country.
Some former Soviet republics are at risk. Last week, Putin positioned himself as a successor to Peter the Great, after making no secret of his regret at the collapse of the soviet union.
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