President Vladimir Putin updated Russia's elite on Tuesday on the war in Ukraine, nearly one year to the day since ordering an invasion that has triggered the biggest confrontation with the West since the depths of the Cold War.

Here are highlights from his speech, which was delivered to members of both houses of parliament and to military commanders and soldiers and lasted about one hour and 45 minutes.

Difficult Time
"I am making this address at a time which we all know is a difficult, watershed moment for our country, a time of cardinal, irreversible changes around the world, the most important historic events that shape the future of our country and our people, when each of us bears a colossal responsibility."

Protecting the People of Donbas
"Step by step, carefully and consistently, we will resolve the tasks facing us. Since 2014, the (people of the) Donbas (in eastern Ukraine) had been fighting, defending their right to live on their own land, to speak their native language. They fought and did not give up in the conditions of blockade and constant shelling, undisguised hatred on the part of the Kyiv regime. They believed and expected that Russia would come to their rescue... We patiently tried to negotiate a peaceful way out of this most difficult conflict, but a completely different scenario was being prepared behind our backs."

Hostage of West
"I have already said many times that the people of Ukraine have become the hostage of the Kyiv regime and its Western overlords, who have effectively occupied this country in the political, military and economic sense... Today's Ukrainian regime essentially serves not the national interests but those of third countries."

Existential Threat to Russia
"The elites of the West do not hide their purpose... That is, they intend to transform a local conflict into a phase of global confrontation. This is exactly how we understand it all and we will react accordingly, because in this case we are talking about the existence of our country. But they also cannot fail to realize that it is impossible to defeat Russia on the battlefield. Therefore, they are conducting more and more aggressive information attacks against us."

Culture Wars
"They distort historical facts, constantly attack our culture, the Russian Orthodox Church, and other traditional religions of our country. Look at what they do with their own peoples: the destruction of the family, cultural and national identity, perversion, and the abuse of children are declared the norm. And priests are forced to bless same-sex marriages... As it became known, the Anglican Church plans to consider the idea of a gender-neutral God... Millions of people in the West understand they are being led to a real spiritual catastrophe.

Impact of Sanctions
"They want to make the (Russian) people suffer (with sanctions)... but their calculations did not materialise...

"Those imposing sanctions are punishing themselves. They have caused price hikes, job losses, an energy crisis. And we hear them telling their own people that the Russians are to blame."

Russian Resilience
"The Russian economy and management system turned out to be much stronger than the West believed. Thanks to the joint work of the government, parliament, subjects of the Federation and, of course, the business community and labour, we ensured the stability of the economic situation, protected citizens, saved jobs, prevented market shortages, including essential goods, supported the financial system, entrepreneurs who invest in the development of their business, and therefore in the development of the country...

"Thanks to a strong balance of payments, Russia does not need to borrow abroad, bow down, beg for money, and then have a long dialogue about what, how much and under what conditions to give. Domestic banks are operating stably and steadily, and have a solid safety margin...

"According to estimates, already in the second quarter of this year, inflation in Russia will approach the target level of 4%. Given the positive dynamics of this and other macroeconomic parameters, objective conditions are being formed for reducing long-term lending rates in the economy, which means that loans for the real sector should become more accessible...

"We will keep increasing the minimum wage and it will grow faster than inflation and average pay. From the beginning of this year, the minimum wage has been indexed by 6.5%. From Jan.1, 2024, I suggest increasing it by an extra 10%."

Elections
"The rights and freedoms of our citizens are inviolable. They are guaranteed by the constitution and, despite external challenges and threats, we will not retreat from them. In this regard, I want to emphasize that elections of local and regional authorities this year, and the presidential elections in 2024 will be held in strict accordance with the law, taking into account all democratic and constitutional procedures."

National Character
"Russia is an open country. And at the same time, it is a unique civilization... It was handed down by our ancestors, and we must preserve it for our descendants and pass it on. We will develop cooperation with friends, with everyone who is ready to work together. We will adopt all the best, but rely primarily on our own potential, on the creative energy of Russian society, on our traditions and values."









Source: Reuters