Russian government official issues sanctions warning

A Russian government official has issued a warning about sanctions imposed on the country following President Vladimir Putin’s invasion of Ukraine.

Dmitry Medvedev, deputy head of the Russian Security Council, tweeted a response to the sanctions imposed on the country.

Today, March 1, Medvedev tweeted in response to a comment by French Finance Minister Bruno Le Maire, in which he told French radio that the European Union (EU) would unleash an economic and financial war against the Russia, according to Sky News.

Medvedev’s tweet read: “Today a French minister said he declared an economic war on Russia.” Watch your tongue, gentlemen! And do not forget that in the history of humanity, economic wars have often turned into real wars”.

Medvedev served as Putin’s back-up when he had to transition to prime minister from 2008 to 2012 due to term limits.

Vladimir Putin (Alamy)

On Saturday February 26, Russia was banned from SWIFT, a high-security network that facilitates monetary transactions around the world, a decision intended to “harm their [Russia’s] ability to operate globally,” as this will delay the payments Russia receives for exports such as oil and gas.

At the same time, sanctions targeting Russia’s financial, energy and military-industrial sectors have also been imposed.

Namely, Russia’s central bank has been targeted, with Western leaders agreeing to freeze its assets to limit its ability to access $630 billion in international dollar reserves.

Along with this, all major Russian banks are excluded from the UK financial system.

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Exports to Russia have also been targeted, with the EU, US and UK announcing restrictions on products that can be sent to the country.

These products include civilian and military dual-use items, such as high-tech items and certain chemicals.

Individuals will also be sanctioned with a “blacklist” of sanctioned oligarchs.

The EU, US, UK and Canada have announced the creation of a task force dedicated to identifying and freezing the assets of individuals and businesses.

If you would like to donate to the Red Cross Emergency Appeal, which will help provide food, medicine and basic medical supplies, shelter and water to people in Ukraine, click here for more information

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