Home Business News West warned ‘there will be hell to pay’ as EU sanctions on Russia could be the ‘death of its economy’

West warned ‘there will be hell to pay’ as EU sanctions on Russia could be the ‘death of its economy’

27th Jun 24 11:55 am

The former Russian President Dmitry Medvedev has once again taken to Telegram to rant over a EU approved 14th package of sanctions on Russia.

Medvedev said that Russia “will not forget” that the US and the European Union have invoked a fresh wave of sanctions which is targeting Moscow’s gas sector.

The EU voted in favour of the new sanctions and that this has been found to be “responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.”

Specifically, Brussels has banned “reloading services of Russia LNG” which is liquified natural gas “in the EU territory.”

The Kremlin is also finding it difficult to receive payment for energy exports and now Finland and Sweden will also cancel some Russian LNG contracts.

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Russia’s Central Bank has warned that Western sanctions are making it difficult to make payments and this could now lead to the “death of its economy” which will make it very difficult for the Kremlin to fund the war in Ukraine.

Vladimir Chistyukhin, a First Deputy Chairman of the Bank of Russia said these issues “need to be resolved as quickly as possible.”

He added, “Because if there are no normal payments for products related to foreign economic activity, for our export- and import-dependent country, it’s death.”

Medvedev wrote on Telegram, “Life has proven time and again that the so-called ‘sanctions from hell’ adopted by the EU on order from the US, pave the way to the Inferno solely for their own makers.

“So the 14th package of sanctions will not reach the goal, but will be yet another act of hostility.”

Medvedev continued, “We will survive this. But we won’t just forgive and forget, we’ve got a good memory.

“We won’t leave without response the intent to harm our people—and sanctions of any kind always hit people and businesses, but not authorities.

“We will thoroughly note down this very case of assault on our interests, and in a very short time will present our demands—and not only economic—to the hostile countries.”

He added, “There will be hell to pay.”

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