Putin: Western Partners Try to Blame Economic Policy Mistakes on Russia

Since the beginning of Moscow's military operation in Ukraine in late February, the Russian economy, among other sectors, has been hit by harsh Western sanctions that targeted not only the country's businesses and finances, but also media outlets, culture, sports, and other areas.

The West is seeking to pin the blame for its economic policy mistakes on Moscow, Russian President Vladimir Putin said on Tuesday.

"As you know, the situation on the global food market has become noticeably more complicated over the past two years", Putin said. "Mistakes in the economic, energy, and food policies of developed countries led to a sharp rise in food prices around the world two years ago. And the situation has only deteriorated in recent weeks".

According to the president, Western nations are also trying to solve problems in the energy sector at Russia's expense by attempting to nationalise Russian property.

"We can go far if we go like that", the Russian president warned. "Let no one forget that this is a double-edged weapon".

The deteriorating situation with food and energy prices is a result of the West's actions, Putin said. He pointed at how the work of Russian and Belarusian enterprises is being blocked, and the West's own production is hindered by high gas prices, which is "also a result of their actions".

One of the factors worsening the situation in the global energy sector is the pressure that the Russian gas company Gazprom faces, Putin noted.

"The situation in the energy sector is deteriorating as a result of non-market, rude measures, including administrative pressure on our company Gazprom in some European countries", the president explained.

Earlier in the week, Germany announced that Gazprom Germania GmbH (which was a subsidiary of Gazprom Export) is being put under the trusteeship of the Federal Network Agency, with Berlin reiterating its ambition to decrease dependence on Russian gas in the future.

Putin remains adamant that Russia needs to protect its market from the turmoil that is seen globally when it comes to food and energy prices. According to the Russian president, the country enjoys many possibilities for import substitution provided by the nation's domestic agro-industrial complex, science, and industry.

The World Trade Organisation (WTO) has estimated that the ongoing crisis in Ukraine may prompt already high food prices to cause unrest among undernourished people in poverty-stricken countries. The organisation called its members to avoid a strategy of restricting the exports of their own food supplies. In light of the spike in food prices, residents of some European countries have begun mass purchases of goods fearful of food shortages due to supply chain disruptions.

Gas prices have also skyrocketed in Western countries, particularly in the United States, in the wake of the Ukrainian conflict. Following a slew of anti-Russian sanctions, Putin signed a decree demanding that all payments for gas be settled in rubles when it comes to "unfriendly" countries. The decision prompted criticism in European nations, but, according to reports, some nations are considering the possibility of paying in rubles, among them being Hungary and Slovakia.