Russian President Vladimir Putin courted foreign investors for his flagging economy on Thursday, promising less red tape, no tax hikes and no foreign currency restrictions.
His reassurance followed a report that the Russian central bank was mulling introducing capital controls to prop up the rouble which dropped to record lows on Tuesday.
The Russian economy will likely flat line this year as Western sanctions tighten over Russia’s involvement in the Ukraine conflict. Putin called the sanctions “silly nonsense” to a crowded room of investors in Moscow’s World Trade Centre. He warned that the sanctions “in the long run will damage the global economy and the full extent...
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