Russian economy in ‘shock’ from unprecedented economic war – Kremlin

Kremlin spokesman Dmitry Peskov attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 4, 2021. REUTERS / Evgenia Novozhenina / File Photo

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March 10 (Reuters) – The Kremlin said on Thursday that Russia’s economy was experiencing a shock and that measures were being taken to soften the impact of what it described as an “absolutely unprecedented” economic war being waged against Moscow.

The West has imposed sweeping sanctions against Russia over its invasion of Ukraine.

“Our economy is experiencing a shock impact now and there are negative consequences, they will be minimized,” Kremlin spokesman Dmitry Peskov told reporters on a conference call.

He described the situation as turbulent, but said that measures to calm and stabilize it were already being taken.

“This is absolutely unprecedented. The economic war that has started against our country has never taken place before. So it is very hard to forecast anything.”

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Reporting by Reuters; editing by Guy Faulconbridge

Our Standards: The Thomson Reuters Trust Principles.

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