Anti-Russia Sanctions Will Trigger Global Economic Crisis, Russian Official Warns

Anti-Russia Sanctions Will Trigger Global Economic Crisis, Russian Official Warns

Russia has warned that present and new anti-Russia sanctions imposed by the U.S. and different Western nations will result in a world financial disaster. “Both the present sanctions which have been imposed towards our nation and the brand new extra steps that Brussels and Washington are in all probability desirous about now will hit the worldwide financial system arduous,” the spokesperson for Russian President Vladimir Putin stated.

Sanctions Will Lead to Global Economic Crisis, Says Russian Official

Russian President Vladimir Putin’s press secretary, Dmitry Peskov, advised reporters on Friday that anti-Russia sanctions can have a detrimental influence on the worldwide financial system, with the potential to spark a world financial disaster.

“We proceed from the fact that in any case, both the current sanctions that have been imposed against our country and the new additional steps that Brussels and Washington are probably thinking about now will hit the global economy hard,” Putin’s spokesperson was quoted by Tass publication as saying. He added:

This can solely lead us down a path in direction of a world financial disaster.

The Group of Seven (G7) nations are reportedly contemplating a near-total ban on exports to Russia. Despite already halting exports of varied gadgets, reminiscent of military-related merchandise and luxurious items, the brand new measures being thought-about might widen the commerce embargo to incorporate used automobiles, tires, cosmetics, and attire.

Responding to a query in regards to the G7 nations contemplating new anti-Russia sanctions, Peskov stated: “Of course, we’re monitoring this very fastidiously, after all, we’re conscious that the United States and EU nations are actively contemplating new extra sanctions. We should not overlook that no nation on this planet has ever confronted sanctions to such an extent as now we have. Therefore, we adapt, develop, have interaction in long-term growth plans and bear in mind the hazards that lie behind such ideas of our opponents.”

Meanwhile, the BRICS nations — which comprise Brazil, Russia, India, China, and South Africa — are engaged on creating a common currency that would scale back their reliance on the U.S. greenback. Russian Foreign Minister Sergey Lavrov stated Thursday that Russia is prepared to participate within the discussions on the creation of a BRICS forex.

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