The Russian Foreign Ministry announced the development of mechanisms that will protect foreign economic activity from geopolitics


    Russia manages to successfully reduce sanctions risks and potential costs from them, says Russian Deputy Foreign Minister Alexander Pankin. Moscow, according to him, is now developing mechanisms that will ensure “full-fledged foreign economic activity that does not depend on geopolitical challenges.”

    The authorities, according to the Deputy Minister, are responding “to the restrictions in a verified and adequate manner, guided by the tasks of maintaining the stability of the Russian economy, financial system and the interests of domestic enterprises.” “We focus on de-dollarization, import substitution, and strengthening technological independence. We managed to adapt to external challenges, turn the situation in our favor, and intensify development programs for promising and competitive industries, “said Mr. Pankin in an interview. Interfax

    The Russian economy is being helped by “counter special measures in the form of an embargo on the import of food products from countries applying sanctions,” he said. “A legislative framework has been prepared to counteract new unilateral steps by the United States and other states. Mechanisms are being developed to ensure full-fledged foreign economic activity that does not depend on geopolitical challenges, ”added Alexander Pankin.

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    On October 14, Russian President Vladimir Putin said that the sanctions policy of the American authorities was leading to a weakening of the dollar’s position as the world’s reserve currency. He explained that when Washington blocks dollar payments for sanctioned goods, it forces other countries to pay differently.

    What else did the President of Russia talk about during the energy week – in the material of Kommersant, “Conversation from Gas to Gas”.

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