Russian Prime Minister says Sanctions Against Moscow Won’t Hurt Country’s Economy

Russian Prime Minister Dmitry Medvedev (Credit: RIA Novosti, Alexander Astafyev)
Russian Prime Minister Dmitry Medvedev (Credit: RIA Novosti, Alexander Astafyev)

US sanctions imposed on Russia are restraints but will not cripple the country’s economy, Russian Prime Minister Dmitry Medvedev said Friday.

“This is a program of limiting our country, or as is accepted to say, restraining [Russia],” Medvedev told students at a metallurgical plant in Lipetsk.

“Sanctions won’t cripple our economy, everything will be fine,” Medvedev said.

On Wednesday, the US Treasury introduced a so-called Sectoral Sanctions Identification List that specifically targeted Russia’s defense, energy and banking sectors of the Russian economy.

The United States and European Union accuse Russia of meddling with Ukraine’s internal affairs, and have already introduced targeted sanctions against a number of Russian officials and companies this spring. The Western sanctions have been extending gradually since their initial introduction after Russia’s reunification with Crimea.

Moscow has repeatedly condemned the “language” of the sanctions, warning of the boomerang effect such limitations might have.

On Thursday, the Russian Foreign Ministry said Moscow retains its right to reciprocal measures over the sanctions, noting that it “will not tolerate blackmail.”