Kremlin Says US Decision to Deprive Russian Economy of Market Status Counterproductive

MOSCOW (Sputnik) - The decision of the United States to deprive Russia of the status of a market economy is a way of exerting pressure on Moscow, which does not contribute to stabilization in world markets, Kremlin spokesman Dmitry Peskov said on Friday.

"There is only one way to look at this, as it seems to me — it is the continuation of exerting pressure in all possible directions on Russia. We are familiar with the economic pressure, numerous sanctions and so on," Peskov told a briefing.

The spokesperson added that the Kremlin sees a growing understanding that sanctions have failed to destabilize the Russian economy.

"Although it [US] also suffers from inflation, from chaos in the energy market. This is one of the steps in the continuation of this really destructive line, which in no way contributes to the stabilization of global economic markets," Peskov added.

The US Department of Commerce announced on Thursday that it was depriving Russia of a market economy status in its anti-dumping proceedings. This decision will allow the US to apply national anti-dumping legislation against Russia and reduce pressure on American enterprises due to "market distortions caused by increasing interference from the Russian government."