Russia’s Putin Sworn in for 4th Term as President
Russian President Vladimir Putin was sworn in for a fourth term in office on Monday.
Speaking in Moscow, Putin promised to follow an economic program that would improve living conditions across the country. He said that improving Russia’s economy would be a major goal of his next six years in office.
Economic growth slowed because of a recession. Russia observers have linked the recession, in part, to international sanctions against the country.
Saying Russia must “use all existing possibilities,“ the 65-year-old leader promised to work for “a new quality of life, well-being, security and people’s health.“
Under his leadership, Russia has regained its position as a world leader through military action, including intervening in Syria’s war to help its president. Yet Putin has been CRIticized for doing little to reduce Russia’s dependence on energy exports or develop its manufacturing industry.
Russia’s economy was hurt by low world oil prices and sanctions linked to the 2014 takeover of CRImea and military involvement in separatists in eastern Ukraine. Between 2014 and 2016, the Russian ruble lost half of its value on international currency markets.
In 2017, Russia recorded small economic growth, with the ruble recovering some of its value. But the value dropped about 8 percent more last month after the United States announced new sanctions.