Putin says no sovereignty possible without economic sovereignty

For Russia no other sovereignty is possible without its economic sovereignty, Russian President Vladimir Putin said on Monday.

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“Of course, I have to note the contribution that business, including the younger generation of entrepreneurs, has made to the development of the Russian economy in the 21st century — the revival of agriculture, the construction complex, entire sectors of industry and modern services, and the strengthening of our sovereignty, including industrial, technological, and financial.

"And without this sovereignty, no other sovereignty is possible, because everything is based on it, it is the foundation," Putin said at a meeting with representatives of the Russian business community.

The country's strong fourth place among global states in terms of purchasing power parity is an achievement of the domestic business, Putin said.