Russian experts offer advice on countering America's "declaration of economic war"

Russian Prime Minister Dmitry Medvedev said the sanctions against Russia were a declaration of economic war. Photo: TASS

Further strengthening of sanctions against Russia could be seen as a declaration of economic war, Prime Minister Dmitry Medvedev said at a meeting with employees of the Kronotsky national reserve.

"As for future sanctions, I don't want to comment, but I can say one thing: If there is then something like a ban on banking activities, or the use of a currency, it can be called, frankly, a declaration of economic war. And this war must be responded to with economic, political, and if necessary, other measures. Our American friends need to understand that," he said, answering questions in the audience.

"Western partners often argue that the Russians are bad, that they are implementing the wrong policies, that the Russian government should change its stance on some issues, but the main thing is to limit our economic power."

Russian Prime Minister Medvedev

In an interview with Sputnik, Doctor of Political Science, Professor of Pacific University Ildus Yarulin said that by introducing new sanctions, the Americans are not only thinking about the economic consequences, but the anti-Russian card is used for internal political purposes in the United States.

"The ongoing state primaries show that the Republicans cannot rejoice just yet. It is also difficult to say that the opposition will have solid positions in the Senate and the House of Representatives. And unfortunately, the anti-Russian card is dealt to everyone," he said.

At the same time, Ildus Yarulin also noted that very few people benefit from the pressure of sanctions. According to him, sanctions will cause damage to Russia, may slow down the process of solving some economic problems, affecting the country's economic and social development. Especially if the US applies the second part of sanctions related to the activities of the financial structure.

But this is not a serious threat. Russia is ready for this, it is not for nothing that Moscow withdraws its investments from US stocks. "I think the EU also joins the sanctions. So there is an undeclared war. But any war situation is bad for both sides, few people win in this war.

On the other hand, the war is practically declared not only against Russia but also against China. "Here we need to consider how far BRICS (a group of large emerging economies including Brazil, Russia, India, China and South Africa) are ready to endure sanctions. If they go that way, then the pressure on sanctions will be weakened,"-Mr. Ildus Yarulin said.

On August 8, the US announced new sanctions against Russia for the alleged use of chemical weapons in Salisbyry.(UK). The first measures, which will come into effect from 22 August, are a complete ban on exports to Russia of electronic equipment and dual-use components.

A second round of sanctions could be triggered 90 days later, implying a downgrade of diplomatic relations, a ban on Aeroflot flights to the US and a near-complete halt to US exports to Russia.

The US State Department said Russia could avoid a second round of sanctions if it guarantees it will not use chemical weapons in the future.

The Russian Foreign Ministry called the White House's plan to impose new sanctions "collusion between the US and the UK" and promised a proportionate response.