October 12, 2016 – Fort Russ News –
RIA Novosti – translated by J. Arnoldski –
The impact of Western sanctions on the Russian economy is first and foremost reflected in restricted access to technology, Russian President Vladimir Putin stated.
“We often repeat like a mantra that these so-called notorious sanctions don’t really affect us. But they do, and above all, I see this threat in the restriction of technology transfer,” Putin stated at the plenary session of the “Russia Calling” forum.
Putin stressed that “this damages not only the Russian economy, but the global economy as a whole, because the Russian economy is undoubtedly an important sector of the common global economy.”
“So those who are doing this are hurting themselves in the end. But I think that we, of course, can handle this,” the head of state added.
As the minister of economic development, Aleksey Ulyukaev, stated during the forum, new sanctions that could be imposed on Russia over Syria will not produce any significant affect on the economy, as local businesses have already adapted to the closure of capital markets abroad.
Earlier, the EU’s economic sanctions against Russia were extended, and will now last until the end of January 2017.