off-the-wire

Putin welcomes end of Russia's corporate reliance on West

Kitco Media
By Reuters
Published:
Updated:
Reuters



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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine.


MOSCOW, Feb 21 (Reuters) - Russian President Vladimir Putin on Tuesday welcomed what he said was a long-overdue structural transformation of the Russian economy as a result of the conflict in Ukraine and called on Russian companies, locked out of Western economies, to start investing more at home. In a speech to Russia's political elite, he said that it was dangerous for Russian firms to be dependent on the West, and said no ordinary Russians regretted that the time of rich Russians buying up "yachts and palaces" in the West as a safe haven had come to an end. (Reporting by Reuters)

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