22:53 GMT +315 October 2019
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    Finance Minister Anton Siluanov

    Russia Has No Intention of Amending Budget Due to Threat of Harsher Sanctions

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    The US plans to impose new sanctions against Russia in February 2018.

    The Russian Finance Ministry has no intention to amend the budget and issue Eurobonds before February 2018 amid new possible US anti-Russia sanctions, Russian Minister of Finance Anton Siluanov said Monday.

    The ministry plans to raise some three billion dollars on the external market next year, while exchanging old Eurobonds for the new ones, amounting to four billion dollars.

    "We won't amend our plans, accommodating to sanctions; we won't adjust the budget, regarding the possibility of new sanctions," the minister said.

    The minister referred to new US sanctions against Russia signed by President Donald Trump back on August 2. However, the administration has not yet implemented the aforementioned measures, but will have to meet the deadline that expires on January 29, 2018. The new sanctions, specifically targeting Nord Stream-2 project, have been harshly criticized by the EU with the German foreign minister calling the restrictions illegal and aiming to take Russia’s place on the European energy market.

    READ MORE: Less and Less Meaningful: Anti-Russia Sanctions 'Aren't Important' — Professor

    Last week, EU leaders agreed at the EU summit in Brussels to prolong the anti-Russian economic sanctions — due to expire in January 2018 — for another six months.


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