Any model of economic development in Russia must be based on the assumption that low oil prices and Western sanctions would persist for a long time, Russia Prime Minister Dmitry Medvedev said Tuesday, Sputnik reports.
"The current prices for hydrocarbons and raw materials, as well as [anti-Russian] sanctions, unfortunately and most likely are of a long-term nature for our economy," Medvedev said addressing the Territory of Reasons youth forum in the Vladimir region.
"Therefore, any economic model, which is being currently developed, must assume that these 'shocks' will remain for a long time," Medvedev stressed.
