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Kremlin shrugs off latest Western sanctions

Published:

NEW DELHI: The

Kremlin

shrugged off the latest round of

Western sanctions

against

Russia

, saying that the country’s

economy

had successfully adapted to

restrictions

, reported Reuters.
Kremlin spokesman

Dmitry Peskov

told reporters, “Nothing fundamentally new has been announced, and it is unlikely that anything fundamentally new can be thought up by those who impose these sanctions without harming their own economy.”
He also pointed out that the sanctions indirectly affected the European economy and the interests of American companies. Last week’s sanctions focused on Russia’s Mir payment system, financial institutions, military industrial base, sanctions evasion, future energy production, leading tanker group Sovcomflot, and prison officials allegedly linked to Navalny’s death.
Despite the sanctions, Peskov affirmed that the Russian economy had demonstrated resilience, adapting and continuing its development. The International Monetary Fund predicts a 2.6% growth for Russia’s economy this year but anticipates challenging times ahead. Meanwhile, the Bank of Russia forecasts economic growth of 1.0-2.0% in 2024.

Several nations had imposed sanctions against Russia including US who announced on Friday that it will be slapping 500 more sanctions against Russia for its ongoing war in Ukraine, which entered its 3rd year, and the recent death of Putin critic Alexei Navalny.

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