Regarding the Economic Sanctions of Other Countries, Russia: Our reaction will be fast and felt for the West

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Regarding the Economic Sanctions of Other Countries, Russia: Our reaction will be fast and felt for the West


Russia warned the West on Wednesday that it was working on a broad response to sanctions that would be swift and felt in the West's most sensitive region.

Russia's economy is facing its most severe crisis since the fall of the Soviet Union in 1991, after the West imposed crippling sanctions on nearly all of Russia's financial system and companies following Moscow's invasion of Ukraine.

"Russia's reaction will be swift, discreet and felt for those to whom it is addressed," said Dmitry Birichevsky, director of the Ministry of Foreign Affairs' Department of Economic Cooperation, as quoted by RIA news agency and quoted by Reuters.


US President Joe Biden on Tuesday imposed a direct import ban on Russian oil and other energy in retaliation for the invasion of Ukraine.

Russia warned earlier this week that oil prices could soar to more than $300 a barrel if the United States and the European Union banned imports of crude from Russia.

Moscow says Europe consumes about 500 million tonnes of oil per year. Russia supplies about 30% of them or 150 million tons, as well as 80 million tons of petrochemicals.




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