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    Chief of Staff of Presidential Executive Office Sergei Ivanov

    Russian Economy Weathers Worst of Western Sanctions Despite Serious Damage

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    Western Sanctions Against Russia (737)

    Western sanctions negatively affect Russian economym, however, its has sustained, Russian presidential administration the chief of staff said in an interview broadcast Saturday.

    YUZHNO-SAKHALINSK (Sputnik) — The Russian economy has sustained serious damage from Western sanctions but is finally through the worst of their impact, Sergei Ivanov, the chief of staff of the Russian presidential administration, said in an interview broadcast Saturday.

    "Sanctions have dealt considerable damage but I assume that it is no longer critical. Not only inflation is in decline but goal and foreign currency reserves are growing, while the Reserve Fund and the National Welfare Fund have not shrunk… It is tremendous progress, " Ivanov told Russia's Vesti v Subbotu weekly news program on the Rossiya television channel.

    Western countries have imposed sanctions targeting Russia's banking, energy and defense sectors after Crimea's reunification with Russia.

    Western Sanctions Against Russia (737)


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