Russian economy to remain open – Putin

The Russian economy will “certainly remain open, even in the new conditions,” President Vladimir Putin said on Tuesday, stating that partnerships will be strengthened with amenable countries.

“We will expand cooperation with those countries that are interested in mutually beneficial cooperation,” Putin said.

He highlighted the importance of developing a payment infrastructure using national currencies, the establishment of scientific and technological ties, and increasing the capacity of logistics chains.

“The actions of some countries, their desire to close off from Russia – not to close Russia, but to close off from Russia, even to their own detriment – have shown how important it is in the modern world to diversify transport flows, expand corridors in the direction of predictable, responsible partners,” the president said.

Putin noted that Russian business is adapting to changes by “restructuring production and supply chains, [and] actively forging new ties with foreign partners.”

He has instructed the government to forge ahead with the development of infrastructure projects in the country, eliminating any red tape that slows down their implementation.