Vladimir Putin says the world will be changed forever by the breakdown of international relations after the Ukraine invasion.
Putin showed up late at St Petersburg World Economic Forum after his speech was delayed by a cyber attack.
Today he accused the United States of treating other countries as "colonies", and said gloomy forecasts for the Russian economy had not been fulfilled.
One of the series of bold claims made was that the Kremlin has unrivalled hypersonic missiles that no other countries have.
Amid a lengthy denunciation of the United States and its allies, Putin said: "Nothing will be as it used to be in global politics."
He said the sanctions "blitzkrieg" against Moscow had never had any chance of succeeding.
Western allies led by the European Union and the US have imposed the most severe economic sanctions that any nation has faced in modern history since Moscow sent troops into Ukraine on February 24.
Putin said the EU could lose more than $400 billion due to sanctions, which he said would rebound on those who had imposed them.
Turning his sights on Europe, he said the real interests of ordinary citizens have been sidelined, which will lead to radicalism and the removal of its leaders.
Putin said said the EU had lost its "political sovereignty" during the combative speech.
He said the EU had started down a track that would lead to radicalism and changeover of elites, as he criticised the EU's economic policies such as "printing money" to address high inflation and inequality.
He also attacked the West for blaming him personally for its economic troubles, and said Russia's actions in Ukraine - which Moscow calls a "special military operation" - had nothing to do with high inflation in developed countries.
Towards the end of the speech he stressed his belief that sanctions are a "double-edged sword" which can harm the "authors of these ideas".
He said Russia is not to blame for rising prices on the global grain market, but rather the US who drove up food prices by "snapping up" food on global markets.
Putin said Russia stood ready to boost its exports of grain and fertilisers, and that Russia would send food exports to Africa and the Middle East.
He told the conference fears the dollar would rise to 200 roubles is a form of information warfare.
The despot also claimed the Kremlin has safeguarded the Russian economy to the point it could withstand sanctions from the West by putting enough liquidity in the system.
Meanwhile, the West simply started printing money to address their economic strife, he claimed.
The negative trends in the global economy have not been caused by his so-called "special military operation" in Ukraine, he added.
Before Putin's speech, Kremlin spokesperson Dmitry Peskov said the tyrant's speech had been put back an hour as specialists worked to address the cyber attack.
The incident was reportedly linked to a DDOS attack targeting the computer network at the St. Petersburg International Economic Forum - where the tyrant was due to speak.
Peskov said the cyber attack started on Thursday, disabling the forum's guest accreditation and admission system and creating a host of issues with access.
