Contents tagged with Sanctions

  • Putin warns Europe of irreversible consequences due to anti-Russian sanctions

    Citizens of the European Union and the poorest countries will face the most difficult consequences due to the sanctions imposed by the West on Russia, said Russian President Vladimir Putin at a government meeting on economic issues. According to Putin, the restrictive measures introduced by the West against Russia contribute to the global crisis.

    "These sanctions largely provoke a global crisis," Vladimir Putin said. "Their masterminds, guided by short-sighted, inflated political ambitions and …

  • EU says paying for Russian gas in rubles would violate sanctions

    The European Commission, the EU’s executive arm, has warned member states that paying for Russian gas in rubles would violate sanctions imposed on Moscow.

    On March 31st, the Kremlin demanded that EU gas buyers open two accounts: one in foreign currency and one in rubles. Gazprombank would be responsible for converting the currency and transferring the ruble payment to Gazprom, the Russian state-owned energy corporation.

    The European Commission has determined that such a situation alters the …

  • Putin: Russia will achieve its 'noble' goals in Ukraine

    During a speech marking the 61st anniversary of Yuri Gagarin becoming the first human in space, Russian President Vladimir Putin said Russia’s goals in Ukraine are “noble”.

    “The goals of the ‘special operation’ to protect the Donbas will be achieved, they are noble,” Putin stated.

    "On the one hand, we are helping and saving people, and on the other, we are simply taking measures to ensure the security of Russia itself," Putin exclaimed.

    He also noted that a clash between Russia and Ukraine …

  • KFC suspends operations in Russia, Pizza Hut to follow suit

    KFC’s parent company, Yum! Brands, announced on Tuesday that it is suspending operations of all KFC company-owned restaurants in Russia, and it is finalizing a deal to suspend all Pizza Hut operations in the country. Of the 1100 KFCs in Russia, the company owns 70, and the remaining 1030 franchises will continue operations.

    “This action builds on our decision to suspend all investment and restaurant development in Russia and redirect all profits from operations in Russia to humanitarian …

  • Russia stocking up on foreign cash amid looming sanctions

    Russian banks are importing dozens of tons foreign cash into the country, building up reserves in case of tough Western sanctions with the possible shutdown of SWIFT and foreign correspondent accounts.

    In December 2021, the import of foreign cash to Russia amounted to $ 4.97 billion, RIA Novosti reports, citing Russia’s Central Bank statistics.

    This is the fourth largest number in Russia’s history. Russian banks imported more dollars and euros only amid panic of March 2020 ($6 billion) and …

  • Amid looming Western sanctions, Russia stress-tests its economy

    The Russian authorities seem to be seriously considering the possibility of tough Western sanctions, which are being prepared in an even of an invasion of Ukraine.

    According to the news outlet The Bell, Russian state-owned companies and large banks carried out a series of exercises to assess the consequences of the sanctions, including the shutdown of SWIFT and foreign software, a ban on the supply of chips and other high-tech equipment to Russia.

    Top managers of the main sectors of Russian …

  • Kremlin accuses the West of trying to ignite economic crisis in Russia

    Western countries are trying to provoke an economic crisis in Russia, which poses a threat to national security, Assistant to the Secretary of the Russian Security Council, Alexander Abelin, TASS reports.

    According to him, Russian authorities should focus on developing measures to bock these attempts.

    Ensuring economic security through strengthening economic sovereignty and countering threats that could harm Russia's national interests is the country's most important strategic national …

  • EU extends sanctions against Russia

    The European Union extended the economic sectoral sanctions against Russia for six months.

    " The Council decision follows the latest assessment of the state of implementation of the Minsk agreements - initially foreseen to happen by 31 December 2015 - at the European Council of 24-25 June 2021. On that occasion EU leaders called on Russia to fully assume its responsibility in ensuring the full implementation of the Minsk agreements as the key condition for any substantial change in the EU’s …

  • Putin claims he does not understand why U.S. imposes sanctions on Russia

    Russian President Vladimir Putin does not fully understand why sanctions are being imposed on Russia and does not consider the situation in the Russian economy to be a disaster amid rising unemployment and falling real incomes of Russians.

    "We do not impose any sanctions. We only respond somehow, only where it is possible, not to harm ourselves, not to shoot ourselves in the foot. And why the American partners are doing what they are doing so far remains a mystery in many respects," Putin said …

  • Russian Foreign Ministry summons U.S. ambassador, warns of serious response to sanctions

    On April 15, Russian Deputy Foreign Minister Sergei Ryabkov met with U.S. Ambassador to Moscow John Sullivan, reported the press service of the Russian Foreign Ministry.

    The ministry said that the Russian side gave an assessment of the "unacceptable actions of the American side", which allegedly inflicted a heavy blow to the Russian Federation instead of the stated intention to build pragmatic relations.

    Ryabkov told Sullivan that "a series of retaliatory measures will follow" in the near …