Putin Sees Trade War Turmoil as Economic Opportunity for Russia
Amid intensifying global trade disputes and economic uncertainty, Russian President Vladimir Putin has called on his government to seize emerging opportunities to strengthen the country’s economic resilience.
The Gaze reports on this with reference to Reuters.
Speaking to key economic officials, Putin emphasized that recent disruptions in global commodity and financial markets – spurred by rising protectionism and a wave of U.S. tariffs – could create strategic openings for Russia’s domestic industries and export capacity.
“The global economy is entering a phase of heightened volatility,” Putin stated. “We must not only monitor these changes but act decisively to use them to our advantage – boosting domestic production, expanding trade ties, and reinforcing our overall economic sovereignty.”
Although Russia’s trade with Western nations has been significantly curtailed due to sanctions linked to the ongoing war in Ukraine, Moscow has largely been unaffected by the latest round of U.S. tariffs introduced by President Donald Trump. These measures have instead targeted a broader range of countries, disrupting international supply chains.
Russia now faces fresh challenges – particularly falling oil prices and shrinking budget revenues. According to a leaked Ministry of Economy forecast, revenue from oil and gas exports is expected to drop 15% this year.
Finance Minister Anton Siluanov recently warned that the government must shore up fiscal reserves to ensure at least three years of stable budget coverage in the event of prolonged low energy prices. Putin admitted that public spending surged by 25% in Q1 but insisted it was part of a deliberate effort to stabilize economic flows and meet government obligations.
The Russian leader described the country's projected economic slowdown – from 4.3% in 2024 to a forecasted 2.5% this year – as a “soft landing,” characterizing it as a necessary step in curbing inflation, which remains above 10%.
The Central Bank has also flagged the possibility of sustained low oil prices due to weakened global demand, adding another layer of pressure on Russia’s export-dependent budget.
Putin’s strategic messaging appears aimed at fostering a sense of economic adaptability amid Western pressure, while also signaling confidence in Russia’s ability to pivot toward self-reliance and new trade corridors.
As The Gaze reported earlier, on 2 April, US President Donald Trump officially announced the start of a trade war with all countries of the world simultaneously, announcing tariffs of 10% to 50% on imports to the US depending on the country of origin.