The collapse of the Russian economy, as predicted in the West, failed to materialize, Putin points out Western forecasts about the collapse of the Russian economy as a result of sanctions that were issued in early spring have not come to pass, President Vladimir Putin said on Friday.

They could exceed $400 billion in just one year, according to the Russian president The European Union’s sanctions against Moscow are the main cause of the 27-member bloc’s economic slowdown, Russian President Vladimir Putin said on Friday during his speech at the St. Petersburg International Economic Forum (SPIEF).

[unable to retrieve full-text content]