Moscow says new EU sanctions against it will harm the EU more than Russia

Moscow has rejected the new punitive measures in the EU’s 14th sanctions package against Russia, saying the sanctions are ineffective and will actually harm the European Union.

The West is not looking at the consequences for its own economy or the prosperity of people in the EU, Deputy Foreign Minister Alexander Grushko said in Moscow. Russia expects economic growth of more than 3% this year, more than 10 times that of Germany, for example.

“The aim of the sanctions was to strangle the Russian economy and destroy the cohesion of society. The EU achieved the opposite,” Grushko said. Russia also warned of a further rise in energy prices in the EU.

The foreign ministers of the 27 member states approved the sanctions on Luxembourg, along with other new punitive measures due to Russia’s war against Ukraine.

On Monday evening, the Russian Foreign Ministry announced that, in return, additional representatives of EU politics, business and institutions would be banned from entering Russia. No details were given.

Russian arms holding Vysokotochnye Kompleksy (High Precision Systems) announced that sanctions against its companies, including a tank factory, were a sign of recognition that the military complex was operating successfully. The sanctions would not impact weapons production in the future, he said.

As for the EU’s liquefied natural gas (LNG) sanctions against the multibillion-dollar Russian LNG sector – the first time the sector has been hit by such measures – Russian analysts spoke of a blow to LNG producers.