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Al Arabiya.net is a website dedicated to the Arabic language. In a speech on Wednesday, Russian President Vladimir Putin stated that sanctions have boosted prices in Russia, but that Russian enterprises have alleviated the situation.
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Putin urged Russia's government to seek to mitigate the negative consequences of Western sanctions.
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"The West is attempting to impose its economic model on the countries of the world," Russian President Vladimir Putin added.
He emphasized that the central bank does not need to generate money and that the country's financial resources are sufficient to meet the current difficulties.
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"Our economy and business sector have all of the resources necessary to fulfill the established goals," Putin added, saying that the Russian economy will adjust to the new reality brought about by western sanctions against Moscow.
Putin ordered additional funding for infrastructure projects, stressing that the government would have to make economic structural adjustments.
While inflation is growing, Russian President Vladimir Putin promised more support for families with children as well as an increase in social subsidies.
Russian Foreign Minister Sergei Lavrov has previously stated that the dollar will fall and faith in it will erode as a result of Washington's policies.
He went on to say that the current situation is tense, and that the battle to establish the new world order is still ongoing.