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Vladimir Putin: the western sanctions actually helped the Central Bank and the Government.

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Vladimir Putin: the western sanctions actually helped the Central Bank and the Government.

The cancellation of western sanctions shouldn't be expected, it was declared by the Russian President during "Hotline with Vladimir Putin" in Moscow today. According to him, regardless of the sanctions, some change in the Russian economy was inevitable and in fact these sanctions actually helped the Government and the Central Bank. It is necessary to correct economic policy in a professional, consistent and timely manner. For the first quarter of this year, industrial production barely fell compared with the first quarter of 2014: it was at 99.6%. The strengthening of the ruble depends not only on the price of oil, but also on the actions of the authorities. They carried out adjustments to the rate of the national currency efficiently. Of course, the government could "move quicker" with an anti-crisis plan, but the document is well thought out and reflects the state of the economy.  There are a lot of threats which we can't predict, but if we maintain a steady internal political situation we can hold on to a unity of society in which it can be observed that we face no terrible threats, Vladimir Putin said. He expressed the opinion that the economy of Russia can be restored in under two years.


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