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Russian President Vladimir Putin mentioned the country’s economic development at a conference of the Russian union of industrialists and employers on March 18.

Russian businesses should not regard sanctions as a temporary phenomenon, he said, adding the West does not hesitate to threaten Russia with new sanctions and they will find another way of undermining the country’s economy even if the sanctions are alleviated.

Saying that there are more sanctions against Russia than against all other countries of the world, he noted that 28 595 sanctions were imposed against natural and legal persons of Russia.

He stressed that only the countries with full sovereignty can achieve dynamic and progressive development for their people, adding that most of the European nations have lost their sovereignty and consequently faced serious problems in the economy and security as well.

The country’s economic growth rate should not be allowed to slow down, he said, adding it is a common task of government organs and businesses to curb inflation and reduce unemployment.