Putin: Russia Should Take Advantage of Trade War Opportunities to Strengthen Economy

Jinse reports that Russian President Vladimir Putin has urged his economic officials to seize the opportunities the global market turmoil and the escalating trade war present to the global economy. Russia's trade with the U.S. and the EU has plummeted due to sanctions but has not been affected by Trump's tariffs. The country is now facing a prolonged drop in oil prices and reduced budget revenues. Putin told officials, "Due to intensified global competition, commodity and financial markets have experienced significant fluctuations, and the global economic situation is becoming more complex." He added, "It is necessary not only to monitor these factors and predict their changes but also to take advantage of emerging opportunities to develop domestic production, trade relations, and exports to strengthen the entire national economy." This is Putin's first comment on the global economic situation since the U.S. announced tariff increases.