Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Kremlin shrugs off impact of U.S./EU sanctions, but pledges retaliation

Published 03/03/2021, 06:27 AM
Updated 03/03/2021, 06:37 AM
© Reuters. FILE PHOTO: A general view shows the Kremlin in Moscow

MOSCOW (Reuters) - The Kremlin on Wednesday played down the impact of sanctions imposed by the United States and the European Union over Moscow's treatment of opposition politician Alexei Navalny, but said it would retaliate with reciprocal measures.

In President Joe Biden's most direct challenge yet to the Kremlin, the United States on Tuesday imposed sanctions to punish Russia for what it described as Moscow's attempt to poison Navalny with a nerve agent last year.

Navalny, 44, fell ill on a flight in Siberia in August and was airlifted to Germany, where doctors concluded he had been poisoned with a nerve agent. The Kremlin has denied any role in his illness and said it has seen no proof he was poisoned.

Washington on Tuesday imposed sanctions against seven senior Russian officials and on 14 entities.

The United States acted in concert with the EU, which imposed largely symbolic sanctions on four senior Russian officials.

Kremlin spokesman Dmitry Peskov said Moscow would hit back in a way that best served its interests.

"Of course it's impossible not to apply the principle of reciprocity," Peskov told reporters.

"We consider such decisions to be absurd, unjustified and most importantly, they have no effect or meaning," he said. "We can only regret this and express our bewilderment."

However, Peskov said the U.S. sanctions would have no effect on the senior officials targeted because they are not allowed to travel outside Russia, own property abroad or hold foreign bank accounts anyway because of the sensitivity of their positions.

"This is practically a duplication of the restrictions these people face under Russian law, nothing more," Peskov said, adding that sanctions targeting the entities would have more of a material effect.

Regardless of their impact, Peskov warned that the sanctions would have a destructive effect on Russia's relationship with the United States and the European Union.

Maria Zakharova, a spokeswoman for Russia's Foreign Ministry, said late on Tuesday that the sanctions amounted to interference in Russia's internal affairs, and that Moscow would retaliate "but not necessarily symmetrically."

Russian officials have not said when Moscow will announce its reciprocal measures.

© Reuters. FILE PHOTO: Russian opposition leader Navalny attends a court hearing in Moscow

Navalny was arrested at a Moscow airport in January on his return from Germany following treatment for poisoning with what many Western countries say was a nerve agent. He was jailed last month for violating parole on what he said were trumped-up charges, an assertion Russian authorities deny.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.