Russian President Vladimir Putin addresses the nation, in which he ordered the country's armed forces to neutralize those who organized an armed rebellion of the Wagner private military group, June 24, 2023. (KREMLIN POOL PHOTO VIA AP)
MOSCOW – Western sanctions and the departure of foreign companies have a positive effect on the Russian economy, as such moves have expanded business opportunities for Russian entrepreneurs, Russian President Vladimir Putin said Thursday.
"As I have already said … the world hasn't collapsed as a result of the sanctions or the departure of Western companies," the Kremlin cited Putin as saying at the plenary session of the third economic forum "Strong Ideas for the New Times."
According to the president, Russian entrepreneurs have many more opportunities than before, and are able to "actively occupy vacant niches in the market," as well as identify new niches, which will lead to overall economic growth.
READ MORE: Putin: Russia maintains economic stability despite challenges
Putin noted that domestic manufacturers have already proven that they are able to work well. It is important to support Russian businesses so that they can expand their presence worldwide, he said.
