Sanctions will have boomerang effect on West: Putin

[Sports News]

By Darya Korsunskaya ST PETERSBURG, Russia (Reuters) - President Vladimir Putin said on Friday the United States' "unipolar" vision of the world had failed and sanctions imposed on Russia over the Ukraine crisis would have a boomerang effect on the West. In a speech at a business forum billed as Russia's answer to Davos, Putin set out plans to revive the country's flagging economy, including relying less on energy exports. But he also appeared to try to drive a wedge between the United States and Europe by thanking European businesses for taking a more "pragmatic" approach over the sanctions than U.S. firms. The European Union, heavily reliant on Russian gas supplies, has been more reluctant than Washington to impose tough sanctions on Russia.

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