Russian Official Warns Global Economic Crisis Could Follow Anti-Russia Sanctions


The U.S., EU, and other Western nations have implemented a number of sanctions against Russia in recent years. Dmitry Peskov, the spokesperson for Russian President Vladimir Putin, stated that this anti-Russian legislation could lead to a global economic crisis.

Russian Official Predicts Global Financial Crisis Due to Anti-Russia Sanctions

Dmitry Peskov, the press secretary of Russian President Vladimir Putin, warned on Friday that the sanctions imposed against their country and the additional measures being considered by the EU and U.S. could bring about an international economic disaster.

“We assume that in any case, both the sanctions that have been imposed against us, and the new steps that Brussels and Washington are likely to take, would have a very serious effect on the global economy,” he commented in a statement to Tass. “This could only lead to a global financial crisis.”

The G7 nations are reportedly contemplating a comprehensive ban on exports to Russia, which could include used cars, tires, cosmetics, and apparel.

When asked about potential new anti-Russian sanctions from the G7, Peskov said: “We are certainly very closely monitoring this. We are well aware that the U.S. and EU countries are actively considering new sanctions. We must not forget that no other country has ever been subjected to such a barrage of sanctions as we have. Therefore, we adjust, develop, and plan for long-term development, taking into account the risks posed by the intentions of our opponents.”

The BRICS countries (Brazil, Russia, India, China, and South Africa) are also discussing the possibility of creating a unified currency to reduce dependence on the U.S. dollar. Russian Foreign Minister Sergey Lavrov said on Thursday that his country is ready to participate in the talks.

Do you think that anti-Russia sanctions could lead to a global economic crisis? Share your thoughts in the comments.

Kevin Helms

This student of Austrian Economics has been an avid Bitcoiner since 2011. His interests lie in open-source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is intended for informational purposes only. It is not an offer or solicitation to purchase any products, services, or companies. is not responsible for any losses or damages caused by reliance on this content, goods, or services discussed in this article.

Related articles

Recent articles