Moscow Plans Targeted Trade Restrictions in Response to Western Sanctions

MOSCOW (Sputnik) - Moscow will work out targeted trade and financial restrictions to Western sanctions introduced in the wake of Russia's operation in Ukraine, Dmitry Birichevsky, the head of the Russian foreign ministry's economic cooperation department, said.

"It is obvious that targeted retaliatory trade and financial restrictions will also be developed," Birichevsky said.

Commenting on the sanctions imposed by the US and the EU in the aviation industry, the diplomat slammed the restrictions as "an unprecedented attempt to influence Moscow's foreign policy decisions."

"These restrictive measures target a huge civilian industry, jeopardize the safety of passenger air travel both on domestic and international routes," he added.

Russia is currently working on its economic response measures, the diplomat said, noting that at the stage of development, this work is mostly non-public. Russia's reaction will be prompt, thoughtful and sensitive for those targeted, he added.

Moscow does not intend to give up its positions as a reliable gas supplier to Europe, Dmitry Birichevsky said.

"As for the gas sector. Russia does not intend to give up its position as a reliable supplier of gas to the European market. Russian companies continue to fulfil contractual obligations both in terms of supplies and transit," the diplomat said.

Moscow is ready to appeal to the World Trade Organization (WTO) to challenge the trade restrictions that were adopted by the West in violation of the WTO rules and regulations, Dmitry Birichevsky stressed.

"Moscow is ready to challenge those trade restrictions that were adopted in violation of the rules and norms of the organization. We have sufficient experience of successfully defending our interests in the WTO Dispute Settlement Body and intend to continue the practice of using this arbitration to challenge improper trade restrictions imposed by other member countries that violate multilateral agreements and their own obligations in this organization," Birichevsky said.

Commenting on possible dramatic changes in relations between Russia and the WTO, the diplomat said that the issue is not on the agenda at this stage, noting that further steps will be determined by Russia's national interests and the development of the situation in the world trade.