Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Here are the key takeaways from Putin's annual press conference

Published 19/12/2024, 11:06
© Reuters.
USD/RUB
-
IMOEX
-

Investing.com -- On Thursday, Russian President Vladimir Putin expressed readiness for a dialogue with U.S. President-elect Donald Trump, while also discussing Russia's economic and military status. Putin did not provide details about when he and Trump might meet.

In his annual press conference, Putin addressed the situation in Syria, stating that Russia had not been defeated there. He mentioned proposals made to the new rulers in Damascus concerning Russia's military bases in the country.

The Russian President also revealed plans to meet with Syrian President Bashar al Assad, during which he intends to inquire about the fate of missing U.S. reporter Austin Tice.

Turning to the domestic economy, Putin acknowledged signs of overheating, which are leading to high inflation. While supporting the central bank's tight monetary policy, he suggested that the bank could have acted more promptly.

The central bank is forecasted to increase its key interest rate by 200 basis points to 23% at its next meeting on Friday. This would be the highest level in over 20 years, and the bank's strict monetary policy has drawn criticism from businesses. Putin stated that the government and the central bank are working to slow down the economy's pace.

On the military front, Putin proposed a missile 'duel' with the United States to demonstrate the capabilities of Russia's new Oreshnik hypersonic ballistic missile against U.S. missile defense systems. He suggested that both nations select a target to be protected by U.S. missiles for this experiment. Putin stated that the Oreshnik, though based on previous Russian designs, is a modern weapon.

Putin also discussed the progress of Russian forces in Ukraine. He stated that the forces are advancing along the entire front line and are moving towards achieving their primary goals. He described the situation as "changing dramatically" and noted daily territorial gains.

However, he suggested that predicting future developments was challenging due to the complexity of the conflict. Military analysts from both the West and Russia have observed that Russia is advancing in eastern Ukraine at its fastest pace since 2022, posing a threat to strategically important cities like Pokrovsk, a significant road and rail hub.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.