On the eve of the G20 summit in Germany, the Russian President criticized Russia’s trade protectionism and economic sanctions against Russia.

These economic sanctions, coupled with the collapse of oil prices, have led Russia to the longest recession since the arrival in the Kremlin of Vladimir Putin
SERGEI KARPUKHIN / POOL / EPA

The Russian President has criticized the commercial protectionism and Western economic sanctions against Russia on the eve of the G20 summit in Germany on Thursday, which he called a form of hidden protectionism.

The sanctions enacted against Moscow by the Americans and Europeans in the context of the Ukrainian crisis “are not only unfounded, but go against the G20 principles of cooperation in the interests of all countries of the world,” Vladimir Putin wrote in a published article In the German economic newspaper Handelsblatt. The Russian head of state called for “open trade relations, based on uniform standards and standards.”

Protectionism is evolving into a rule of conduct and unilateral sanctions, decided for political reasons on investment, trade and, in particular, technology transfer, are becoming a hidden “form of protectionism, he stressed.

At the end of June, the EU extended sanctions against Russia for six months, until 31 January next year, for lack of progress in the implementation of the Minsk agreements, which provide for a truce in fighting and a political dialogue between the pro-Russians and the Ukrainian government.

These economic sanctions, coupled with the collapse of oil prices, have led Russia to the longest recession since the 2000 arrival of Vladimir Putin in the Kremlin, and the country is now recovering.

 

 

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