Latest news with #Путин
Russia Today
7 days ago
- Business
- Russia Today
Sanctions, no ‘rolling out carpet' for McDonald's, the fight against ‘bad IT habits': Key points from Putin's meeting on economy
Russian President Vladimir Putin met with business leaders in the Kremlin on Monday, discussing the state of the economy and the effects of Western sanctions. On Russian Entrepreneurship Day, the president thanked business leaders and their employees for driving the recovery from foreign sanctions and effectively filling the space left by corporations that chose to cut ties with Russia over the Ukraine conflict. Fourth-largest economy in the world Putin noted that the Russian economy now ranks fourth globally by purchasing power parity (PPP). He credited the accomplishment to the business community and workers across the country. According to the International Monetary Fund, Russia overtook Japan as the fourth-largest economy based on PPP in 2024, ranking behind only China, the US, and GDP growth GDP grew by 4.1% in 2023 and 4.3% in 2024 – a 'solid result,' considering the 'difficult conditions,' Putin said. 'The growth was neither confined to individual sectors nor limited to specific regions. On the contrary, it spanned a wide spectrum: industry, agriculture, digital technologies, services, finance, and more,' he went on to say. The government projects a 2.5% growth rate in 2025. Russia won't be 'rolling out a carpet' for McDonald's Putin said the government would devise a program for foreign companies wishing to return to the Russian market, 'but only insofar as it aligns with the protection of our own business interests.' Moscow, he stressed, will not be 'rolling out a carpet' for McDonald's and other corporations. 'Let's consider the terms. If their return is beneficial to you, then by all means, they can come back. If something isn't currently in your interest, let's work together to make it so,' Putin told Russian business leaders. Fighting 'bad IT habits' The president welcomed calls to restrict access to services from companies such as Microsoft and Zoom, which officially exited the Russian market after 2022. 'We need to strangle them. I completely agree. I say this openly because they are trying to strangle us. We need to reciprocate,' he said. He stressed that Russia did not force any IT companies to leave in the first place. However, he urged Russians to abandon the 'bad habits' of relying on foreign services. Sanctions making economy stronger Putin argued that Western sanctions have inadvertently helped the country ramp up domestic production and become more self-sufficient. 'Russia has always demonstrated remarkable resilience in the face of hardship. This is one of those moments when overcoming difficulties only makes us stronger.' Fines for breaching 'local production' laws The president also backed the idea of fining state-owned companies for violating recently adopted procurement laws that prioritize domestically produced goods over foreign goods. 'There must be both oversight and sanctions… to deter violations of the norms,' he said.
Russia Today
27-05-2025
- Business
- Russia Today
Sanctions, no ‘rolling out carpets' for McDonald's, the fight against ‘bad IT habits': Key points from Putin's meeting on economy
Russian President Vladimir Putin met with business leaders in the Kremlin on Monday, discussing the state of the economy and the effects of Western sanctions. Marking Russian Entrepreneurship Day, the president thanked business leaders and their employees for driving the recovery from foreign restrictions and effectively filling the space left by corporations that chose to cut ties with Moscow over the Ukraine conflict. Fourth largest economy in the world Putin emphasized that the Russian economy now ranks fourth globally by purchasing power parity (PPP). He credited the accomplishment to the business community and workers across the country. According to the International Monetary Fund, Russia overtook Japan as the fourth-largest economy based on PPP in 2024, ranking behind only China, the US, and GDP growth GDP grew by 4.1% in 2023 and 4.3% in 2024 — a 'solid result,' considering the 'difficult conditions,' Putin said. 'The growth was neither confined to individual sectors nor limited to specific regions. On the contrary, it spanned a wide spectrum: industry, agriculture, digital technologies, services, finance, and more,' he noted. The government projects a 2.5% growth rate in 2025. No 'rolling out carpets' for McDonald's Putin said the government would devise a program for foreign companies wishing to return to the Russian market, 'but only insofar as it aligns with the protection of our own business interests.' Moscow, he added, will 'not be rolling out a carpet' for McDonald's and other corporations. 'Let's consider the terms. If their return is beneficial to you, then by all means, they can come back. If something isn't currently in your interest, let's work together to make it so,' Putin told Russian business leaders. Fighting 'bad IT habits' The president welcomed calls to 'restrict' access to services from companies like Microsoft and Zoom, which officially exited the Russian market after 2022. 'We need to strangle them. I completely agree. I say this openly because they are trying to strangle us. We need to reciprocate,' he said. He stressed that Russia never forced any IT company to leave in the first place. However, he urged Russians to abandon the 'bad habits' of relying on foreign services. Sanctions making economy stronger Putin argued that Western sanctions have inadvertently helped the country ramp up domestic production and become more self-sufficient. 'Russia has always demonstrated remarkable resilience in the face of hardship. This is one of those moments when overcoming difficulties only makes us stronger,' he said. Fines for breaching 'local production' laws The president also backed the idea of fining state-owned companies for violating recently adopted procurement laws that prioritize domestically produced goods over foreign ones. 'There must be both oversight and sanctions … to deter violations of the norms,' he said.
Yahoo
27-05-2025
- Business
- Yahoo
Putin Threatens to ‘Throttle' Big Tech Firms Like Zoom and Microsoft
Russian President Vladimir Putin said U.S. tech companies like Microsoft and Zoom should be 'strangled' and 'throttled' in his country, arguing that Russia should build domestic competitors instead. During a meeting with Russian company leaders to evaluate certain sectors and the domestic economy, a business leader expressed frustration to Putin that U.S. companies that have announced their exit from the country continue to operate. Microsoft said it was ending sales in the country in 2022 after Russia invaded Ukraine, and Russian lawmakers have railed against Zoom for years. 'We need to strangle them. I completely agree,' Putin said, according to Turkey's Anadolu Agency. 'I say this without any embarrassment, because they are trying to strangle us. We need to reciprocate.' Microsoft and Zoom did not respond to immediate requests for comment from The Daily Beast. Putin also attacked McDonald's, which also exited the nation after Russia began its war in Ukraine, saying the battle did not align with its core values. 'It is impossible to ignore the humanitarian crisis caused by the war in Ukraine,' McDonald's CEO Chris Kempczinski wrote at the time. 'And it is impossible to imagine the Golden Arches representing the same hope and promise that led us to enter the Russian market 32 years ago.' 'They put everyone in a difficult position, ran away, and now, if they want to come back, should we pave the way for them?' Putin said on Monday. 'Of course not.' McDonald's did not respond to an immediate request for comment. McDonald's reiterated its commitment to staying out of the country in a letter to a Ukrainian advocacy group last month. Putin also lamented that Western companies that left due to 'political pressures' have hurt Russian businesses. 'Some companies left their Russian partners in a difficult situation,' he said. Putin's remarks came after President Donald Trump attacked Putin in a statement on Truth Social on Sunday, saying the Russian leader had gone 'absolutely CRAZY' after killing Ukrainian citizens. 'He is needlessly killing a lot of people, and I'm not just talking about soldiers. Missiles and drones are being shot into Cities in Ukraine, for no reason whatsoever,' he said. 'I've always said that he wants ALL of Ukraine, not just a piece of it, and maybe that's proving to be right, but if he does, it will lead to the downfall of Russia!'
Russia Today
26-05-2025
- Business
- Russia Today
Putin hails Russia's economic growth
Russian President Vladimir Putin has hailed the country's economic performance, attributing its rise to fourth place globally by purchasing power parity (PPP) to the efforts of businesses and workers. Speaking on Monday at a meeting with business leaders on National Entrepreneurs Day, Putin said the country had achieved impressive results over the past two years, despite operating in what he described as 'far from favorable and rather difficult conditions.' 'In 2023, GDP grew by 4.1%, and in 2024, by 4.3% – that's a solid result,' he said. 'That Russia's economy is now fourth in the world by PPP is, of course, your direct achievement – the result of the work of companies from all regions of the Russian Federation.' PPP compares economic productivity and living standards between countries by adjusting for differences in the cost of goods and services. Putin emphasized that the growth had not been limited to any one sector but spanned a wide range of industries, including manufacturing, agriculture, digital technologies, services, and finance. 'Such a result is not the work of a few large organizations, but the contribution of thousands, hundreds of thousands, even millions of people working toward a common goal,' the president said. The International Monetary Fund has also upgraded its 2025 forecast for Russia's economy. In its latest World Economic Outlook, the IMF projected Russian GDP to grow by 1.5% this year, citing resilience to global and geopolitical challenges. The IMF ranks Russia behind only China, the US, and India in terms of PPP.
Yahoo
24-05-2025
- Politics
- Yahoo
Russia will reveal peace terms to Ukraine after prisoner exchange, Lavrov says
Russian Foreign Minister Sergey Lavrov announced on May 23 that Moscow will convey its peace terms to Kyiv immediately after the completion of the prisoner exchange between the two countries, which is currently ongoing. Speaking to Russian state media, Lavrov disclosed that Moscow is "actively working" on a list of conditions for the war in Ukraine. The list will be ready "as soon as the exchange of prisoners of war is completed," Lavrov said. Following tumultuous on May 16 – the first between the two countries since 2022 – Ukraine and Russia agreed on a 1,000-for-1,000 prisoner exchange. The exchange process started on May 23 and will continue through May 25. In the initial phase of the process, the two parties swapped 390 prisoners each, and an additional each on May 24. During the Istanbul talks, Ukraine and Russia also agreed to exchange documents detailing their respective ceasefire conditions. Separately, Russia is preparing a "memorandum regarding a potential future peace treaty," which Russian President Vladimir Putin first mentioned during a recent with United States President Donald Trump. officials have clarified that the memorandum is separate from the list of ceasefire conditions currently under preparation. While Moscow's list of conditions have yet to be revealed, Russia has repeatedly reiterated maximalist demands, including that Ukraine accept the loss of Crimea and four eastern regions. Earlier this week, on May 22, Lavrov also said that Moscow is uninterested in a in Ukraine, insisting that the "root causes" of the war need to be resolved first. A recent also revealed that Russia is committed to waging war in Ukraine through the end of 2025, and its objectives in the – Ukrainian neutrality and a partition of the Ukrainian state – have not changed. These recent developments suggest that Russia is unwilling to negotiate in good faith, despite offering to share a list of ceasefire conditions after the . Read also: Russia 'hasn't faced enough pressure' —Ukrainian, foreign diplomats react to overnight attack on Kyiv We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
