Highlights

  • Putin slams West amid Ukrine invasion
  • 'Interest of EU firms who work with Russians ignored'
  • 'Short-sighted policy will have negative impact on EU'

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Putin: No reason to think West will change behaviour

He added that "inflation will go up, and the wellbeing of European consumers and ordinary consumers will decrease."

Russia has no reason to think the behaviour of Western partners will significantly change, the Russian President Vladimir Putin said Wednesday.

Speaking at a meeting on the situation in metal industries via video-call, Putin said "interests of European entrepreneurs who produce products and provide employment in cooperation with Russian companies were ignored, were put aside" by Western countries.

ALSO WATCH: What is a cluster bomb? — Ukraine reportedly used the banned weapon on Russian troops

"Obviously, such a rude short-sighted policy will have a negative impact on economies of European countries. It will lead to the rapid increase in the cost of metals on their markets," Putin SAID during his speech.

He added that "inflation will go up, and the wellbeing of European consumers and ordinary consumers will decrease."

Putin also added that "there is no reason to think that the behaviour of partners will significantly change."

Despite widespread economic sanctions against Russian banks and individuals, the EU continues to send around $850 million per day to Russia for oil and gas, even as EU governments condemns the military operation in Ukraine.

Gas-intensive companies include producers of glass, metals, ceramics and chemicals.

Industry officials say in many cases natural gas would be impossible to replace in the short term, and associations representing food processing, metal galvanising and glass companies as well as the head of the chemical industry union have also opposed a sudden shutoff of Russian gas imports.

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