President Putin accused the West of abandoning WTO principles for unfair competition In his opinion, this is how Western countries are trying to “restrain Russian business and redistribute markets in their favor”

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Western politicians, who imposed sanctions against Russia, “threw in the trash” principles of the World Trade Organization, said President Vladimir Putin at a meeting on the development of the metallurgical complex. The broadcast was hosted by RBC.

Putin recalled that Western countries have imposed restrictions on the work of Russian metallurgists in foreign markets and a ban on the purchase of certain components for the production of fittings, rolled metal and steel sheets in Russia. According to him, these measures were taken “for the sake of political interests, moreover, current, opportunistic ones and not reflecting the realities either in world politics or in the world economy.” Thus, when imposing sanctions in the West, “even the obvious consequences” were not taken into account, such as an increase in the cost of building materials on the world market and “spurring global inflation in general,” the president noted.

The same situation is developing in the energy sector, he continued. “The decline in well-being, the quality of life of ordinary citizens, primarily in Europe, is not of interest to [Western] politicians. Not to mention such things as adherence to the principles of the World Trade Organization,— they are just thrown in the trash,— Putin said.

According to him, a number of Western partners “don't even want to remember these principles, because it's just embarrassing to talk about it.” As for the sanctions on the work of Russian metallurgists, they are “a frank manifestation of unfair competition,” the president said. He believes that with the help of such measures, Western countries are trying to “restrain Russian business as one of the leaders in the world metallurgy and redistribute the markets in their favor.”

The fact that sanctions against Russian metallurgy do not comply with WTO standards, Putin spoke back in April. Against the backdrop of restrictive measures, the president instructed the government to prepare an updated strategy for Russia's actions in the World Trade Organization.

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At the same time, the country is not going to leave it, the Foreign Ministry said. Such a move will not bring “any dividends” the Russian economy and would be a bad signal for the world community and a “gift to enemies”, said Dmitry Birichevsky, director of the department's economic cooperation department.

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Vladimir Putin

Politician, President of Russia

October 7, 1952

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