• 

At the third annual forum, Strong Ideas For A New Time, organized by the Russian Agency for Strategic Initiatives (ASI), Russian President Vladimir Putin underscored that the exit of foreign companies from Russia due to sanctions has not only failed to weaken the nation but on the contrary it strengthened it.

At the forum, Putin said, "The world did not collapse due to sanctions, due to the withdrawal of Western companies," adding that "on the contrary, opportunities for Russian businessmen have expanded many-fold."

Putin explained that Russian businessmen, as a result of the ordeal, have been "proactively taking market niches becoming vacant and developing new, including export, business lines," and as a result, the head of state explained, "The entire economy is progressing."

Putin further highlighted that over 43,000 applications from various Russian businessmen have been submitted for trademark registration in five months of the year which, relative to the same time period of 2022, indicated a 35% increase.

"Meanwhile, registrations of domestic brands and the turnover of trademark rights are growing consistently. It means they are becoming more valuable assets. National entrepreneurs need to learn to more efficiently capitalize them and earn extra profits from that," Putin remarked.

Moreover, the President stressed that "the Russian GDP gained 5.4% in May in annual terms, from May to May. This is a decent figure. As regards the processing industry, growth is measured by double-digit figures there - 12.8%. The processing industry moved upward."

Putin also underscored that "this is not merely on the account of the defense industry, not only. Related industries are also on the rise, and this is amid the unemployment rate being the lowest throughout contemporary history and low inflation. This is a good result."

Putin hails Russian troops for stopping civil war

Earlier on Tuesday, Putin told troops gathered at the Kremlin that they prevented a civil war after the June 24 attempted armed mutiny by the Wagner group and held a minute's silence for pilots killed during the latest events.

"You de facto stopped civil war," Putin told troops from the Defense Ministry, National Guard, FSB security service, and Interior Ministry. 

He addressed them inside the Kremlin's Cathedral Square, standing on a red carpet and facing men in different uniforms.

"You proved your loyalty to the people of Russia and the military oath. You showed responsibility for the fate of the motherland and its future," the Russian leader expressed.

He continued, "In the confrontation with rebels, our comrades-in-arms, pilots, were killed. They did not flinch and honorably fulfilled their orders and their military duty."

Putin considered that Wagner fighters, who were approaching Moscow before their chief Yevgeny Prigozhin called the mutiny off, did not win the support of the Russian people or its army. 

"People who were drawn into the rebellion saw that the army and the people were not with them," he said. 

In the same context, the Russian President noted that Moscow did not redeploy any soldier from the special military operation zone to counter the mutiny.

Read more: West pressuring developing countries to isolate Russia: Lavrov