Russian President Vladimir Putin announced on Wednesday that the international sanctions imposed in the wake of the Russian attack on Ukraine may have "negative" repercussions, after months of asserting that Moscow is adapting to the new economic reality.

He said during a meeting with the government, the proceedings of which were broadcast on television, that "the sanctions imposed on the Russian economy may have negative repercussions on it in the medium term."

Western capitals imposed unprecedented sanctions on Moscow after Putin ordered the launch of the operation in Ukraine more than a year ago.

Putin has often declared that Russia is dealing with the repercussions of economic sanctions, which specifically target oil and gas exports.

The Russian leader said Wednesday that unemployment in the country "is still at an all-time low," while inflation is expected to "fall below four percent" by the end of March, after rising sharply in the spring of last year.

But, he added, "returning to a growth trajectory does not mean we have to relax."

"We have to support and strengthen the positive paths in our economy, increase their effectiveness, and ensure our sovereignty in the technological, employment and financial fields," he said.

Putin called on the government to "act quickly and avoid any unnecessary bureaucracy and delays."