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Russian economy in shock over sanctions: Kremlin

Kremlin spokesman Dmitry Peskov says Russia's economy is experiencing a shock. Photo: AP
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The Kremlin says Russia’s economy is experiencing a shock and measures are 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 spokesman Dmitry Peskov told reporters on a conference call on Thursday.

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.”

Peskov also said the Kremlin would seek information from the Russian military after Ukraine accused Russia of bombing a children’s hospital in the besieged city of Mariupol.

“We will definitely ask our military, because you and I don’t have clear information about what happened there,” Peskov said.

“And the military are very likely to provide some information.”

Peskov also told reporters that Ukraine was kept proposing talks between Ukrainian President Volodymyr Zelenskiy and his Russian counterpart Vladimir Putin.

“Kyiv is constantly making such offers to us,” he said, adding that so far contacts have been elevated to foreign minister level – Ukraine’s Dmytro Kuleba and Russia’s Sergei Lavrov were meeting in Turkey as he spoke.

“Let us wait for the results and see what they agree on,” Peskov said when asked if a top-level meeting was possible.

with Reuters