The Russian President has so far been unimpressed by the sanctions imposed by the West.
(Photo: AP)
Düsseldorf, Berlin, Brussels In the EU there was talk of a “Big Bang” package of sanctions against Russia. But the impact of the first round of punitive measures announced by the US, EU, UK, Japan and Canada on the Russian economy is very limited. However, the West has so far only announced a small part of its imaginary punitive measures.
In the short term, the previous sanctions are unlikely to have a major impact on the Russian economy, according to Clay Lowery of the International Banking Federation (IIF). The Russian Foreign Ministry sneered at it as the 101st US sanctions against Moscow. The country has proven that it is able to minimize the damage. “And certainly the sanctions pressure is incapable of compromising the resolve to vigorously defend our interests.” The ministry announced counter-sanctions – “calibrated and sensitive to the US side”.
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