The conflict in the Middle East is causing significant damage to global logistics and industry, Russian President Vladimir Putin said on Thursday.
“The armed conflict in the Middle East is making an increasingly significant contribution to the current situation and causing significant damage to international logistics, production, and cooperation chains,” Putin said at the plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs.
The consequences of the conflict in the Middle East are difficult to accurately predict, even those involved in it cannot do so, the Russian president also said, adding that there are estimates that the consequences of the conflict can be compared to the coronavirus.
“The events facing the global community in recent years demonstrate that upheavals in trade, investment, and international relations in general are occurring with increasing frequency. They are becoming a new reality,” Putin said.
Russia must strengthen its own sovereignty, and the importance of this currently is beyond doubt, Putin said.
“For this, it is necessary to strengthen our own sovereignty. I think now no one doubts what sovereignty means in the modern world,” Putin said.
Russia will adhere to a conservative approach in the budget sphere and fulfill its obligations to the citizens, Putin added. — SPUTNIK
