Oreshkin told how us sanctions helped Russian economy

© RIA Novosti / Alexander Demyanchuka in photobacteria banknotes of the USA and Russia. Archival photoOreshkin told how us sanctions helped Russian economy© RIA Novosti / Alexander Demyanchuka the image Bank

Sanctions against Russia have had a positive effect, becoming a motivating factor for the development of the Russian economy, but in the future will only cause interference, said the head of the Ministry Maxim Oreshkin.

«Indeed, when sanctions were imposed, they had an impact on the balance of payments and the dynamics of the Russian economy. But in many ways they were also the motivating factor for Russian companies and the Russian government, and Russian citizens to be more active in the development of its own economy. From this point of view, there is a positive effect,» said Oreshkin journalists following the meeting with the French business.

At the same time, he noted that further restrictions will only create noise.

«Russia is part of a global world and we need to develop projects together with our partners, and sanctions that are introduced by the partners prevent you from doing this,» said the Minister.

In March 2014, the United States in response to Russia’s actions during the Ukrainian crisis has imposed sanctions against several Russian citizens and organizations. Later, Washington joined the European Union, Canada and several other States. The sanctions include a ban on entry for individuals, and also impose restrictions on the activities of Russian banks and companies in the oil and gas sector. In March 2017 the EU extended the sanctions regime in six months, and in early August, the President of the United States Donald trump signed the law, involving the extension of sectoral sanctions against the Russian economy.

In response to Western sanctions, Moscow imposed a ban on imports of certain agricultural products, raw materials and food from countries that have adopted restrictive measures against Russia.

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Oreshkin told how us sanctions helped Russian economy© RIA Novosti, Infografiken sanctions against Russia and retaliatory measures