Beirut: Russian President Vladimir Putin stated on Monday that the sanctions imposed by Western countries against Russia have not achieved their intended goals, labeling them as 'record-breaking' in terms of their scale and ineffectiveness.

According to Anadolu Agency, Putin addressed State Duma lawmakers at the Grand Kremlin Palace, emphasizing that the increased pressure from the West since 2022 has not succeeded in weakening Russia. He remarked on the unprecedented nature of the sanctions, describing them as setting 'world records' for both their quantity and ineffectiveness.

Putin argued that these restrictions have caused more harm to the countries imposing them than to Russia itself. He highlighted the damage these sanctions have inflicted primarily on their authors and initiators, as well as the peoples of certain European and other nations.

He accused Western nations of attempting to cripple Russia's economy and undermine its scientific and industrial potential. Putin also mentioned that, unable to defeat Russia on the battlefield, these countries are now resorting to what he called 'openly terrorist methods' to wage war against the Russian people. Despite these challenges, he asserted that no one can break the Russian spirit.

Putin acknowledged the difficulties faced during this period but noted that Russia has adapted to the external pressures while still pursuing its long-term economic objectives. He assured that the government would continue to support key sectors of the economy, businesses, employment, and social programs while maintaining defense spending.

The European Union recently adopted its 21st sanctions package against Russia, which expands restrictions on the country's financial and energy sectors. These measures include extending the bloc's transaction ban to 33 additional Russian credit and financial institutions, targeting cryptocurrency platforms, and imposing further restrictions aimed at curbing Russian oil revenues. Additionally, the bloc has suspended the automatic adjustment of the Russian oil price cap until July 15, 2027, in an effort to prevent Moscow from capitalizing on market disruptions.