Putin: Russia economy to overcome sanctions

President Vladimir Putin on Friday said that Russia's economy would overcome sanctions imposed on his country in the wake of the military operation in Ukraine.

Putin made the comment as he addressed the St. Petersburg International Economic Forum, Russia's annual showpiece gathering for investors.

The Russian leader said the sanctions would "inevitably lead" to an "upsurge" in populism and "extremist, radical movements" in Europe.

Putin claimed that the 27-nation bloc could lose over 400 billion dollars as a result of the sanctions this year alone.