Russia’s economy faces uphill battle, but has some degree of safety, says Kremlin

MOSCOW, (ST) The Russian economy is current weathering a serious blow due to the new Western sanctions, but there is a margin of safety, Kremlin Spokesman Dmitry Peskov told reporters.

“The Russian economy is now facing serious pressure, and a serious blow, I would say. There is a margin of safety, there is potential, and there are plans. Tireless efforts are underway. We will stand our ground,” he vowed.

Speaking about special economic measures introduced in Russia against the backdrop of new Western sanctions, Peskov explained that they were caused by “certain hostile actions that are trying to shake and undermine the integrity of our economy”.

“Under these conditions, measures are being taken that will help minimize risks, consequences, and insure us against any shakeup of the economy,” he said.

According to him, since these unfriendly measures are unprecedented, “in these conditions it is necessary to act firmly, wisely, and clearly”.

Nada Haj Khidr