Sanctions hurt initiating countries more than Russia — Putin

ST. PETERSBURG, June 5. /TASS/. Sanctions hurt those who impose them more than they hurt Russia, Russian President Vladimir Putin stated at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"Sanctions hurt those who impose them more," he said.

Putin pointed to the damage caused to European countries by the imposition of sanctions and the freezing of Russian assets.

"They froze $300 billion, and now we have over $500 billion, if calculated in dollar terms. They froze 300, and now we have over 500 billion -- and that is the result. Do they cause us damage? Yes, they do. And do those who impose these sanctions suffer damage? Of course, and substantially so! According to various estimates, if you look at the eurozone, the damage from the sanctions introduced against us stands at between 1.5 and 2.5 trillion euros," the president explained.

As Putin noted, "a reassessment of this situation is currently underway.".