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Putin says West is triggering a global economic crisis

Friday, May 13, 2022
Putin says West is triggering a global economic crisis © Reuters. FILE PHOTO: The skyscrapers of the Moscow International Business Centre, also known as "Moskva-City", are seen just after sunset in Moscow, Russia July 12, 2018. Picture taken July 12, 2018. REUTERS/Christian Hartmann

(Reuters) -President Vladimir Putin said on Thursday that the West had triggered a global economic crisis and a wave of ruinous inflation by imposing on Russia the most severe sanctions in recent history over the conflict in Ukraine.

Putin's Feb. 24 order of a "special military operation" in Ukraine prompted the United States and its allies to impose sweeping sanctions on Russia and the Russian elite, steps the Kremlin chief casts as a declaration of economic war.

The West's sanctions, Putin said, were fomenting a global crisis that would whiplash against the European Union and trigger famine for some of the world's poorest countries.

"The blame for this lies entirely with the elites of Western countries who are ready to sacrifice the rest of the world to maintain their global dominance," Putin said at a televised government meeting on the economy.

Still, Putin said, Russia was coping with the pressure.

"Russia is confidently coping with external challenges thanks to both the responsible macroeconomic policies of recent years and systemic decisions to strengthen economic sovereignty, technological and food security."

The West's attempt to economically isolate Russia - one of the world's biggest producers of natural resources - has propelled the global economy into uncharted waters with soaring prices for food and energy.

RUSSIA WILL SURVIVE

Russia's economy is on track to contract by more than 12% in 2022, the biggest fall in gross domestic product since the years following the 1991 fall of the Soviet Union, according to an economy ministry document seen by Reuters.

As an example of Russia's sound performance under sanctions, Putin pointed at the rouble's strength, saying it had become the best-performing currency this year.

The rouble firmed to 65 against the dollar on Thursday, a level last seen in early 2020, driven by capital controls that Moscow had to impose to shield the economy after Russia sent tens of thousands of troops into Ukraine on Feb. 24.

Putin also said that Russia, one of the world's largest wheat exporters, was on track to collect a potentially record harvest this year.

Putin told his ministers on Thursday he wanted to discuss steps needed for steady economic development and an increase in real incomes. Inflation in Russia is on track to post its highest reading since 1999.

Economy Minister Maxim Reshetnikov agreed with Putin that the economy was showing resilience, adding that the labour market situation was stable and inflation started slowing.

He said the main challenges facing the Russian economy were disruptions in supply chains and a significant reduction in imports.

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18-05-2022 13:44:12 (UTC+7)

EUR/USD

1.0521

-0.0026 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0521

-0.0026 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2444

-0.0046 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

USD/JPY

129.20

-0.19 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.7018

-0.0011 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

USD/CAD

1.2825

+0.0016 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

EUR/JPY

135.93

-0.55 (-0.40%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (3)

EUR/CHF

1.0474

-0.0003 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

Gold Futures

1,809.05

-9.85 (-0.54%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (8)

Silver Futures

21.559

-0.191 (-0.88%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Copper Futures

4.2207

-0.0116 (-0.27%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Crude Oil WTI Futures

110.19

+0.56 (+0.51%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

Brent Oil Futures

112.06

+0.13 (+0.12%)

Summary

Neutral

Moving Avg:

Buy (5)

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Indicators:

Buy (4)

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Natural Gas Futures

8.189

-0.125 (-1.50%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,741.51

+56.17 (+1.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,185.94

+221.56 (+1.59%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,518.35

+53.55 (+0.72%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Hang Seng

20,577.00

-25.52 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,475.70

+122.00 (+1.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

BASF SE NA O.N.

50.690

+1.395 (+2.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

64.12

+0.91 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

202.25

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Adidas AG

183.30

+3.24 (+1.80%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.827

+0.131 (+1.96%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

116.50

+2.90 (+2.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.538

+0.319 (+3.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0521↑ Sell
 GBP/USD1.2444↑ Sell
 USD/JPY129.20↑ Buy
 AUD/USD0.7018↑ Sell
 USD/CAD1.2825↑ Buy
 EUR/JPY135.93Sell
 EUR/CHF1.0474↑ Buy
 Gold1,809.05↑ Sell
 Silver21.559↑ Sell
 Copper4.2207↑ Sell
 Crude Oil WTI110.19Neutral
 Brent Oil112.06Neutral
 Natural Gas8.189↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,741.51↑ Buy
 S&P 5004,088.85↑ Buy
 DAX14,185.94↑ Buy
 FTSE 1007,518.35↑ Buy
 Hang Seng20,577.00↑ Sell
 Small Cap 20001,840.30Neutral
 IBEX 358,475.70↑ Buy
 BASF50.690↑ Buy
 Bayer64.12↑ Buy
 Allianz202.25↑ Buy
 Adidas183.30↑ Buy
 Lufthansa6.827Buy
 Siemens AG116.50↑ Buy
 Deutsche Bank AG9.538↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,852
SJC HCM6,825/ 6,925
(0/ 0) # 1,852
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,854
SJC Danang6,825/ 6,927
(0/ 0) # 1,854
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,854
SJC Cantho6,825/ 6,927
(0/ 0) # 1,854
Cập nhật 18-05-2022 13:44:13
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ↀ Giá vàng thế giới
$1,811.32-3.36-0.19%
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ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI$112.93+2.42.12%
Brent$112.01+3.062.73%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.955,0023.265,00
EUR23.783,5625.115,95
GBP28.150,0329.351,12
JPY173,94184,14
KRW15,7819,22
Cập nhật lúc 13:36:56 18/05/2022
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