Russia doesn't expect anything from the West; Moscow reacts to Canada's "unfriendly" actions

The Russian Central Bank said that Western sanctions against the country's economy are not expected to be lifted for several years, but at least until 2027.

Nga Moscow phản ứng về hành động 'không thân thiện' của Canada

The West has targeted Russia with unprecedented economic sanctions in response to its military campaign in Ukraine. (Source: Shutterstock)

The above information was announced by the Central Bank of Russia in its monetary policy report on November 8.

The West has targeted Russia with unprecedented economic sanctions in response to its military campaign in Ukraine. As a result of these restrictions, Russia has been deprived of the ability to conduct international transactions in dollars and euros, and has lost access to the Western banking system.

According to the report, which outlines the economic development scenario for 2024-2026, the Central Bank of Russia does not expect a significant change in geopolitical conditions by the end of this period.

“External restrictions on Russia’s exports, imports, investments and technological cooperation will remain in place in the medium term. Global economic growth is expected to slow, while inflationary pressures are easing in many countries. At the same time, global interest rates will remain high for a long time,” the report said.

* Russian Ambassador to Canada Stepanov warned that Moscow will respond to new Canadian sanctions against its organizations and individuals.

According to Ambassador Stepanov, Canada's new sanctions are "an attempt to impress allies with the continuation of anti-Russian policy."

"The new Canadian sanctions will further aggravate bilateral relations between Russia and Canada, which have been at a low point since the Russia-Ukraine conflict. Moscow will certainly respond to this 'unfriendly act' by Canada."

Canada has added nine more Russian individuals and six entities to its sanctions list.

The list of Russian entities newly sanctioned by Canada includes the newspapers Izvestia and Parlamentskaya Gazeta, REN-TV, the Russia Beyond project funded by the daily Rossiyskaya Gazeta, the Institute of State and Law of the Russian Academy of Sciences, and the Center for Social Conservative Politics.

Individuals specifically blacklisted include singer Jasmin, Chairman of the Russian International Relations Council Igor Ivanov, Scientific Director of the Institute of World History of the Russian Academy of Sciences Alexander Chubaryan, Advisor to the Russian Defense Minister Andrey Ilnitsky, Deputy Director of the Russian Higher School of Science and Technology.

Following the military operation in Ukraine, Canada was one of the countries that imposed the strongest sanctions against Russia. To date, there are more than 1,600 Russian individuals and legal entities on Canada's sanctions list.

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