President Putin emphasized the strategic importance of Russia's Far East, saying that development of the Far East is an absolute priority for Russia, a direct priority for Russia as a whole for the entire twenty-first century, because it is a huge region with a small population but huge potential. Of undoubtedly the government has a strategic interest in this.
As a result of the conflict in Ukraine, the European Union (EU), Russia's primary market for energy exports and source of export-based revenue, has imposed a series of increasingly punitive sanctions, including the disconnection of leading Russian financial institutions from SWIFT and the prohibition of all seaborne crude oil and petroleum product imports from Russia.
Tags: Russia's Arctic goals,international trade,financial institutions from SWIFT,
