Western Sanctions to Last for Many Years: Kremlin

Fri Dec 01 2023
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MOSCOW: Kremlin spokesman Dmitry Peskov on Friday said that Moscow is working on the assumption that US sanctions against it will last for many years.

He was giving his reaction to an interview in which US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said that Washington was aiming to target Russia’s oil and gas revenues.

He said that Russia has no doubt that these sanctions will continue for many years. He added that even without statements from the US representatives, Moscow already knew this.

Russia has been saying that its economy has proved more resilient than expected against the unprecedented Western sanctions over its war with Ukraine.

On the other hand, it faces continuous inflation and shortages of labour, and its economic growth, which stood at 5.0% year-on-year in October.

Peskov went on to say that there is no doubt that the United States will continue to put more pressure on Russia and the entire system of trade and economic ties.

Russia turning to China, other markets

Russia is turning to China, and other markets in the Middle East, Asia, Africa and Latin America to compensate for the decline in trade with the Western states.

He noted that the world economy is not limited to the US economy.

He said the world is much more diverse than the United States, adding the American-centric world is coming to an end. The Russian diplomat strongly believed that period of diversity is beginning, including in international economic relations.

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