Affirms Sanctions Cannot Separate Russia From The World, President Putin: We Will Not Give Up

JAKARTA - Western countries have imposed harsh sanctions on Russia after Moscow's military operation in Ukraine, which targeted Russian business, economy, media, sports and culture.

Russia cannot thrive in isolation from the rest of the world, but isolation will not happen despite Western sanctions, Russian President Vladimir Putin said on Monday.

"In the modern world, it is impossible to just draw a circle around something and attach it," said President Putin, quoted from Sputnik News July 19.

The Russian leader further went on to explain, Moscow will not be 'confused' by Western efforts to restrict or even completely shut off access to high-tech products.

"We will not give up or be confused, or even, as many of our sympathizers predict, the past few decades in terms of development," said President Putin.

"Of course not. On the contrary, realizing the many difficulties we face, we will actively seek new solutions, effectively utilize our existing technology reserves, and develop domestic innovative enterprises," he stressed.

As part of a mechanism that will allow the country to address problems resulting from sanctions, President Putin listed the involvement of private capital in Russian companies, as well as additional efforts and controls in the case of high-tech projects.

Earlier, President Putin acknowledged that many of the risks caused by sanctions remained, but highlighted that Western restrictions have backfired on those who enforce them. The United States, as well as several European countries, have faced soaring inflation and skyrocketing energy prices following anti-Russian sanctions.

Earlier this week, the European Union considered the idea of making changes to some anti-Russian sanctions, particularly those related to gas, oil and fertilizer. The move was introduced as a possible way to avoid the risk of hampering food exports.