Sanctions’ impact on Russian and EEU economies is minimal, Putin says

Sanctions’ impact on Russian and EEU economies is minimal, Putin says

13 April 2017

It was world market changes, not sanctions, that have had negative impact on the economy of Russia and its partners in the Eurasian Union, Russian president Vladimir Putin says.

In an interview with Mir TV company, the president disagreed that Russian economy has declined due to the sanctions, dragging down EEU partners with it.

“It is not true. Sanctions have nothing to do with the decline. Their impact is minimal. The problem is the world market changes. Negative market environment has hit Russian economy, but it has also hit our partners. And it has hit them directly, not through us. Of course, there is a connection, and our partners depend on our economy, but Russian economy also depends on theirs,” Putin said.

According to him, benefits from integration processes are obvious, if applied smartly.

“I believe we carry out economically balanced policies, and we do not run ahead as some EU countries do. They introduced a common currency and adopted every sort of decisions, but then it turned out that economies of some countries could not handle strong euro. They cannot use instruments of monetary policy to weaken national currencies or manoeuvre the financial market, et cetera,” the president noted.  

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