Ukraine crisis: Russian economy 'in shock' from unprecedented economic war, says Kremlin

The West has imposed sweeping sanctions against Russia over its military operation in Ukraine

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People enter a McDonald's restaurant in Moscow on March 9, 2022. Major brands have continued to pull out of Russia, with McDonald's, Coca-Cola, Starbucks and Heineken among the latest to join the international chorus of outrage. —AFP

By Reuters

Published: Thu 10 Mar 2022, 1:33 PM

The Kremlin said on Thursday that Russia’s economy was experiencing a shock and that measures were being taken to soften the impact of what it described as an “absolutely unprecedented” economic war being waged against Moscow.

The West has imposed sweeping sanctions against Russia over its military operation in Ukraine.

“Our economy is experiencing a shock impact now and there are negative consequences, they will be minimised,” Kremlin spokesman Dmitry Peskov told reporters on a conference call.

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He described the situation as turbulent, but said that measures to calm and stabilise it were already being taken.

“This is absolutely unprecedented. The economic war that has started against our country has never taken place before. So it is very hard to forecast anything.”

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Reuters

Published: Thu 10 Mar 2022, 1:33 PM

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