The Japanese government will pass a new package of sanctions against Russia. Bank accounts of individuals and organizations that Tokyo suspects of destabilizing the situation in Ukraine will be banned. Imports of certain products from Crimea will be forbidden. Thus, the East joins Western sanctions. Russia may respond to them with import displacement. “We need to finally focus on development of our own industry and carry out full import displacement to become maximally independent in the context of unprecedented pressure on our country,” believes Vice Prime Minister Dmitry Rogozin.
Vladimir Chizhov, the Russian permanent representative to the European Union, an extraordinary and plenipotentiary ambassador, is confident that the sanctions would not cause a collapse of the Russian economy. “There will most likely be problems in the banking sector. We will have to reconsider the terms of realizing some future projects, including international ones, with businesses of the countries of the European Union and other Western countries,” said Chizhov, “the Russian economy is capable of responding to such challenges with its own resources.”
He noted that the effect on the economy of EU states “will be comparable to the effect they will have on the Russian economy or greater. The Russian economy is part of the global economy, connected with the economies of other countries, other continents. For understandable reasons, the most developed ties are between the Russian economy and the economy of the EU countries. We have many joint projects. The trade turnover between Russia and the European Union is a billion euros a day, exceeding trade turnover between Russia and the U.S. by about 11-12 times.”
The ambassador said that “Russia is ready to continue cooperation when the European Union is ready for it,” while “imposed sanctions are a smack wide of the mark" because they do not help de-escalate the situation in Ukraine or resolve the political crisis in Ukraine.
Russian economy is capable of responding to them with own resourcesThe Japanese government will pass a new package of sanctions against Russia. Bank accounts of individuals and organizations Tokyo suspects of destabilizing the situation in Ukraine will be banned. Imports of certain products from Crimea will be forbidden. Thus, the East joins Western sanctions. Russia may respond to them with import displacement. “We need to finally focus on development of our own industry and carry out full import displacement to become maximally independent in the context of unprecedented pressure on our country,” believes Vice Prime Minister Dmitry Rogozin.Vladimir Chizhov, the Russian permanent representative to the European Union, an extraordinary and plenipotentiary ambassador, is confident that the sanctions would not cause a collapse of the Russian economy. “They will most likely be problems in the banking sector. We will have to reconsider the terms of realizing some future projects, including international ones with business of countries of the European Union and other Western countries,” said Chizhov, “the Russian economy is capable of responding to such challenges with its own resources.”He noted that the effect on the economy of EU states “will be comparable with the effect they will have on the Russian economy or greater. The Russian economy is part of the global economy, connected with the economies of other countries, other continents. For understandable reasons, the most developed ties are between the Russian economy and the economy of EU countries. We have many joint projects. The trade turnover between Russia and the European Union is a billion euros a day, exceeding trade turnover between Russia and the U.S. by about 11-12 times.”The ambassador said that “Russia is ready to continue cooperation when the European Union is ready for it,” while “imposed sanctions are a clap wide of the mark" because it does not help de-escalate the situation in Ukraine or resolve the political crisis in Ukrai
