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PM Medvedev calls sanctions new protectionism and competition tools

November 13, 6:36 UTC+3 MANILA

The Russian premier noted that the contours of the future global economy are being shaped now, while international regulation still exists in the paradigm of 40 years ago

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MANILA, November 13. /TASS/. Economic sanctions are used increasingly more often as a tool of competition in the global markets, Russian Prime Minister Dmitry Medvedev said at the ASEAN Business and Investment Forum on Monday.

"The methods of the so-called new protectionism are used increasingly more often, when economic sanctions become a tool of competition," he said.

The Russian premier noted that the contours of the future global economy are being shaped now, while international regulation still exists in the paradigm of 40 years ago. The instability of commodity markets persists as well, the corporate and public debt is growing, he added.

Medvedev also drew attention to the fact that the Asia-Pacific countries are facing specific challenges, including the depletion of the previous sources of economic growth.

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