Kerry: sanctions significantly influence the Russian economy

Western sanctions and the US had a "significant impact" on the Russian economy, US Secretary of State John Kerry said today at budget hearings in the Senate Committee on Foreign Relations.

"Sanctions have had a significant impact on the economy of the Russian Federation. The ruble fell by 50%, the economy will fall into recession," RIA Novosti cited the Secretary of State. 

In addition, Kerry pointed out that "in the long term, Russia will face the consequences of the choices," which it makes.