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Russian Foreign Ministry says extension of anti-Russian sanctions is short-sighted policy

July 01, 2016, 15:59 UTC+3

The ministry notes Moscow does not overdramatize the extension of the sanctions and is prepared for cooperation when common sense in Brussels prevails

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Russian Foreign Ministry

Russian Foreign Ministry

© Natalya Garnelis/TASS

MOSCOW, July 1. /TASS/. Prolongation of anti-Russian sanctions by the European Union is a short-sighted policy and it will not bring about any changes in Russia’s foreign policy, the Russian Foreign Ministry said.

"The latest prolongation of the EU’s sectoral economic sanctions, not legitimate from the standpoint of international law, till January 31, 2017 is regarded as an extension of Brussels’s short-sighted policy," the Russian Foreign Ministry said.

"We believe it is absurd to link these discriminatory measures against Russia, which is not a party to the intra-Ukrainian conflict, with its compliance with the Minsk Accords, particularly so, in the current situation, where we see Kiev is unprepared to comply with its own commitments. As a matter of fact, the European Union has made Russia-EU relations a hostage of irresponsible gambling by the Ukrainian authorities."

"It is at least short-sighted to expect the sanctions will bring about a change in our foreign policy," the Foreign Ministry said.

"In contrast to 2014 mutual trade in 2015 slumped by 40%," the Foreign Ministry recalled. "This trend continued this year. Also, the restrictions cause a negative effect on the overall economic situation in Europe. Under heavy overseas pressure Brussels has in fact harmed its own producers. The European Parliament’s reports indicate a slowdown of economic growth rates and the loss of jobs as a result of the EU’s policy of sanctions."

Russia ready to cooperate with Brussels when common sense prevails in EU

The ministry notes Moscow does not overdramatize the extension of the anti-Russian sanctions imposed by the EU and is prepared for cooperation when common sense in Brussels prevails.

"We are not inclined to overdramatize the extension of sanctions. They had a positive effect for our economy as well, which is adapting itself to the restrictive measures by reducing its financial, economic and technological dependence on the EU member-countries. Taking into account the diversification of our economic policy, the European Union is running a risk of completely losing a number of important segments of the Russian market in the future," the ministry said.

"We hope that if and when common sense prevails in Brussels, and the EU abandons the logic of confrontation and containment, we will be able to take our cooperation to a qualitatively new level," the Russian Foreign Ministry said.

The EU punishes itself

The ministry said the EU is punishing its own manufacturers by its sanctions against Russia.

"Losses for both sides are considerable," the ministry said.

"Yielding to tough pressure from overseas, Brussels is punishing its own manufacturers," the ministry stressed. "Slowed economic growth and the loss of jobs as result of the European Union’s sanction policy against Russia have been reflected in corresponding reports of the European Parliament.".

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