Putin Spoke at St Petersburg’s International Economic Forum

Global Business

Russian President Vladimir Putin is relentless in pressuring Ukraine. Now he says America is behind the country’s full scale civil war. Speaking at St Petersburg’s International Economic Forum, he also said he’s fearing the Ukraine will join NATO. CCTV’s Tom Barton reports from St Petersburg.

Putin Spoke at St Petersburg's International Economic Forum

Putin Spoke at St Petersburg's International Economic Forum

Russian President Vladimir Putin is relentless in pressuring Ukraine. Now he says America is behind the country's full scale civil war. Speaking at St Petersburg's International Economic Forum, he also said he's fearing the Ukraine will join NATO. CCTV's Tom Barton reports from St Petersburg.

President Putin says that sanctions imposed after Russia’s absorption of Crimea would have what he called a, “boomerang effect,” on the west.

He spoke defiantly of Russia’s role in the crisis in Ukraine, saying that after ousted President Viktor Yanukovich and delayed an association agreement with the European Union, it was what he termed a US backed coup d’etat that threw the country into chaos.

Putin said: “The failure of compromise, the lack of desire to consider the lawful interests of partners is bringing exponential chaos and instability, new risks are arising to the further development of the entire world community.”

Sanctions, say Russian officials, and particularly their knock on effects of capital flight are having a serious effect, visible at the forum itself.

While there is business being talked about and done here, this year’s forum is less busy than previous ones because various international delegates have pulled out.

President Putin praised Wednesday’s gas deal with China.

He said he hoped it would lead to development of Russia’s sparsely populated eastern provinces.

Many at the forum have been to reluctant to talk to the media, and especially about politics and business.

But some here do want to talk about the position Russia’s economy is in.

Bernard Sucher from Aton Investment Bank told CCTV reporter: “This is a crisis atmosphere or something close to it. There’s tremendous uncertainty about the direction of Russia politically as well as economically. Investors prize predictability. These kinds of jokers in the deck with Crimea and a very unsettled situation in Ukraine mean its a guessing game for most business people.”

Putin says Russia isn’t planning to isolate itself from the world and that he hopes relations with the US and Europe can improve.