The Russian economy is withstanding the blow of Western sanctions "quite well" despite all the difficulties, as was evidenced by all the key macroeconomic indicators, President Vladimir Putin said Monday.

Putin made the remarks during talks with visiting Belarusian President Alexander Lukashenko in Russia's Black Sea resort city of Sochi, the Kremlin said.

According to Putin, the leaders met because the situations regarding the regional security, the security of the two countries, and the economy "call for a serious and profound conversation."

Putin noted that Russia and Belarus have many spheres of joint work, including in sectors of energy and agriculture.

Lukashenko said that Western countries have given Belarus and Russia an impetus to develop their own economies more intensively, stressing that "we have a huge market, resources, and technology."