Putin's Rambling Ukraine Rant at St. Petersburg Economic Forum.

Russian President Vladimir Putin claimed that the war in Ukraine is proof that the "ugly neo-colonial world system has ceased to exist and the multipolar world order is being strengthened." He also stated that Russia has made a permanent break with the West and has a plan to become one of the world's leading economies. The country has been hit hard by sanctions imposed by the EU and U.S. The governor of Russia's central bank warned that the country could revert to a planned economic system. The EU is expected to unveil its 11th package of sanctions against Russia in the coming weeks.