“But now we have a really toxic cocktail with the effect of sanctions, with low oil prices, with the impact finally being felt inside Russia of the economic mismanagement of the last ten to fifteen years, where the economy is so heavily hydro-carbon dependent,” Nuland said Wednesday during a discussion at the American Enterprise Institute (AEI).
“With regard to the effect of sanctions, the market information that we are seeing from Russia today is a clear indication that the isolation that the Kremlin has brought, the pressure that the US and Europe and others have brought to bear on the Russian economy is having an effect,” she added.
Through the use of political and economic tools, the US and its allies hope to change Russia’s choices and force it back into compliance with international law, she added.
Russian Deputy Foreign Minister Sergei Ryabkov said Wednesday that the United States has deliberately taken part in efforts to undermine Russia’s economy. US officials, Ryabkov added, have lately been commenting with satisfaction on negative trends in various segments of the Russian market.
The European Union and the United States have implemented several rounds of economic sanctions against Russia over alleged interference in the Ukrainian conflict. Russia has repeatedly denied the allegations.
