Vladimir Putin, Russian President, has advised citizens to be prepared for hard times ahead urging them to be self-reliance.
The president declared this on Thursday in his annual state-of-the nation speech to parliament warning that Russia will fall into a recession next year.
It is said that the country has been hit hard by falling oil prices and Western sanctions imposed in response to its interventions in the crisis in neighboring Ukraine.
It would be recalled that the Ruble, once a symbol of stability under Putin, suffered its biggest one-day decline since 1998 on Monday.
While speaking to both chambers in the Kremlin, Putin also accused Western governments of seeking to raise a new “iron curtain” around Russia.
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