Speaking at the plenary session of the St. Petersburg International Economic Forum (SPIEF), Russian President Vladimir Putin suggested that all the current narratives in the West about so-called "Putinian inflation" are meant for those "who cannot read or write."

This term was used primarily by U.S. President Joe Biden and British Prime Minister Boris Johnson. This refers to that inflation resulting from the country's own difficulties with energy supplies, logistics, and exchange rates caused by Western sanctions against Moscow. To this Putin stated:

"Unable or unwilling to use other reserves, the authorities of the leading Western economies simply fired up the printing press. In this uncomplicated way, they began to cover previously unseen budget deficits."

Loss of EU sovereignty

The Russian president also pointed out in his speech that the European Union had lost its political sovereignty:

"The European Union has completely lost its political sovereignty, and its bureaucratic elites dance to someone else's tune and accept whatever they are ordered to do from above, which harms their own people and their own economy."

In Putin's view, the policies of the EU authorities will deepen the division of the West, not only on economic issues but also on its value system:

"Such a departure from reality, from the demands of society, will inevitably lead to a rise in populism and the growth of radical movements, to serious social and economic changes, to degradation and, in the near future, to a change of elites."

https://pressefreiheit.rtde.live/russland/141356-putin-prophezeit-elitenwechsel-im-westen/

Translated with www.DeepL.com/Translator (free version)