Russian President Vladimir Putin said Western sanctions are short-sighted and threaten the entire world, which he says is increasingly turning to Asia, Reuters reported.
In a speech to participants at the Eastern Economic Forum in the city of Vladivostok, Putin said the West had undermined the global economy with an "aggressive" attempt to impose its dominance around the world.
However, according to him, the Asia-Pacific region is on the rise.
The Russian head of state added that it would be "impossible" for the West to isolate Russia and that Moscow would oppose attempts to remove the country from the international scene.
After the imposition of sanctions, Russia began to see more opportunities in the markets of the Middle East and Iran, Putin also said.