The sanctions imposed against Russia were designed to minimize damage to the global economy. This is stated in a joint statement of the G7 countries (Great Britain, Germany, Italy, Canada, France, Japan and the USA), following a meeting of the heads of financial departments and central banks of the association.
“We have developed our sanctions in such a way that they were purposeful in order to minimize harm to third countries and the world economy,»,— says the statement.
Heads of financial departments of the G7 emphasized that key agricultural products and humanitarian essentials were excluded from the anti-Russian sanctions, which “allowed to ensure access to food, medicines and medical equipment.”
Since the end of February, Western countries, including the EU and the US, began to tighten sanctions against Russia, including officials, entrepreneurs, banks, industrial and transport companies on restrictive lists, as well as banning the export and import of certain categories of goods to Russia. By the beginning of March, Russia had bypassed Iran, Syria and North Korea in terms of the number of restrictive measures imposed against it.
Now the European Union is working on the sixth package of sanctions, said the head of the European Commission Ursula von der Leyen. The measures could include further restrictions against the banking sector, she said. “Especially [we study] Sberbank, which accounts for 37% of this sector,” — she said. In addition, Brussels is considering issues related to energy.
On April 19, the head of the Ministry of Economic Development, Maxim Reshetnikov, said that the Russian economy had withstood the first blow from the sanctions imposed against it. According to him, this is evidenced by the strengthening of the ruble, the disappearance of excessive demand and the slowdown in inflation.
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