Putin: Russia has no plans to punish West with retaliatory sanctions

Russia will not pressure the West with sanctions but will pursue its own interests, President Vladimir Putin said on Thursday.

The introduction of protective measures is not caused by the striving to punish our partners, Putin said. "First of all, we are thinking about our own interests and development goals," he added.

Putin believes that the Western countries that adopted sanctions against Russia in fact defied the principles of the World Trade Organization (WTO).

"The sanctions imposed on Russia are nothing but a departure from the basic WTO principles by some of our partners," Putin said at a meeting of the State Council on Thursday. "They violate the principle of all countries’ equal access to the markets of goods and services. They ignore the most favored nation status in trade and the principle of fair and free competition."

"All this is being done in a politicized way, without any observance of WTO rules," he said. "In fact, a group of Western countries has unilaterally taken the liberty of ‘deleting’ these and some other WTO principles for Russia, which is on the list of the world’s six largest economies," the president noted.

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