Condemning West's sanctions, Russian President Vladimir Putin said on Wednesday the “aggressive” sanctions introduced as a response to Moscow's invasion of Ukraine were short-sighted and a danger for the entire world adding that the world was increasingly turning towards Asia.
In a speech to the Eastern Economic Forum, Putin said the West had undermined the global economy.
The Asia-Pacific region was on the ascendancy, he added, hailing the role of the region in global affairs.
"The role... of the countries of the Asia-Pacific region has significantly increased," Putin said indicating Russia's wish to have more partnerships in the region.
The partnerships will create "colossal new opportunities for our people", he said.
Asserting his position on the sanctions, Putin said it was "impossible" to isolate Russia.
"No matter how much someone would like to isolate Russia, it is impossible to do this," Putin said.
On Moscow's invasion of Ukraine, Putin said that Russia had not lost anything as a result of its military campaign.
Russia's actions were designed to strengthen Russia's sovereignty and were aimed at "helping people" living in the Donbas region of eastern Ukraine, he further said.
{{/usCountry}}Russia's actions were designed to strengthen Russia's sovereignty and were aimed at "helping people" living in the Donbas region of eastern Ukraine, he further said.
{{/usCountry}}Putin said Russia would have no problems selling its vast energy resources around the world, defying Western sanctions.
Blasting Europe's idea for a price cap on Russian gas as "stupid," Putin said that the move would lead to price rises and that global demand for Russian energy was high.