Russian President Vladimir Putin said on Thursday that Western sanctions on Russia amid its invasion of Ukraine has presented some challenges, but also brought new possibilities for Crimea.
He said businesses that were afraid of operating in Crimea due to sanctions have “nothing to fear” anymore, and can now start operations in the annexed peninsula.
Putin acknowledged sanctions will impact the Russian economy and structural changes to the economy would be needed. But he promised support to families with children.
He said the West had in effect declared Russia in default as part of its sanctions over the conflict in Ukraine, but that the conflict had been only a pretext for the West to impose those sanctions.
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