Russian economy in 'shock' from unprecedented economic war: Kremlin

Spokesperson says measures are already being taken to calm and stabilise the situation


Reuters March 10, 2022
Kremlin spokesperson Dmitry Peskov attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 4, 2021. PHOTO: REUTERS

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 invasion of Ukraine.

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

Also read: Russia calls for return to 'peaceful co-existence' with US like during Cold War

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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