U.S. sanctions will have little effect on economy - Kremlin aide

by Reuters
Monday, 28 April 2014 15:47 GMT

PETROZAVODSK, Russia, April 28 (Reuters) - President Vladimir Putin's top economic adviser said on Monday the new round of U.S. sanctions targeting Russian officials and companies will have little effect on the country's economy and will only strengthen the resolve of the Kremlin and its allies.

"The more sanctions there are, the more strongly the elite will consolidate," Kremlin adviser Andrei Belousov told journalists in the northern city of Petrozavodsk, where he accompanied Putin on a visit.

"There will probably be some consequences (for the economy) ... but it is unlikely that they will have a serious impact on an operational, annual level," Belousov said of the sanctions.

He said that, in his view, the new sanctions do not give sufficient grounds to change the country's budget rule, which limits government spending. (Reporting by Alexei Anishchuk; Writing by Alessandra Prentice; Editing by Lidia Kelly)

Latest News
Comments Close
U.S. sanctions will have little effect on economy - Kremlin aide

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus