“Global Economic Impact of Near-Total Export Ban to Russia”

2023-04-21 17:05:00

© Archyde.com. West considering near-total ban on exports to Russia?Kremlin: This will hurt the global economy

Financial Associated Press, April 22 (edited by Xia Junxiong)On Friday (April 21), local time, the Kremlin said it was monitoring reports that Western countries were considering a near-total ban on exports to Russia, saying new sanctions would hurt the global economy.

After the outbreak of the Russia-Ukraine conflict, Western countries imposed multiple rounds of severe sanctions against Russia, covering various fields. However, the United States and its allies seem not satisfied yet, and intend to further increase the sanctions.

According to media reports citing sources, the Group of Seven (G7) is considering an almost total ban on exports to Russia. G7 officials will discuss the idea ahead of a summit of leaders next month.

Kremlin spokesman Dmitry Peskov said on Friday: “We are monitoring this closely and we know that both the US and the EU are actively considering new sanctions. New additional measures will certainly hit the global economy. Therefore, this may increase the risk of a global economic crisis.”

Peskov added: “We must not forget that no country in the world faces sanctions on such a scale as ours. Therefore, while we adapt, develop, and formulate long-term plans, we must also take into account the existence behind the thinking of our opponents.” danger.”

Marie de McGuinness, European Commissioner for Financial Affairs, said in an interview last week that the EU is considering an 11th round of sanctions against Russia, which will focus on measures Russia has taken to evade existing sanctions.

In response to the EU’s statement, Ulyanov, Russia’s permanent representative to the International Organizations in Vienna, responded that the sanctions against Russia have continued, but their effect is limited, and the negative impact on the EU has far exceeded expectations. The EU has not learned its lesson from the backlash of Russia sanctions.

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