About 3,000 troops to take part in missile force’s drills in central RussiaMilitary & Defense March 27, 20:55
Russian footballers must ‘force own game’ on Belgium in Sochi friendly match — coachSport March 27, 20:34
UN denies rumors of Staffan de Mistura’s resignationWorld March 27, 20:16
Prominent Russian lawyer vows to look into detention of journalists during Moscow ralliesRussian Politics & Diplomacy March 27, 20:05
Kremlin says world chess tournaments should go as planned despite FIDE’s presidential rowSport March 27, 19:32
Ukrainian politician says Kiev turns deaf ear to public pleas to end Donbass blockadeWorld March 27, 19:17
Serbia to get Russian MiG-29 fighter jets 'within weeks'Military & Defense March 27, 18:51
Putin wants Russian Guard to ensure security at FIFA World CupSport March 27, 18:35
Russia's Novatek to invest almost $417 million in shipyard for Arctic projectsBusiness & Economy March 27, 18:34
MOSCOW, July 22. /ITAR-TASS/. Further escalation of the conflict in eastern Ukraine and western economic sanctions may cost Russians as much as one-fifth of their income, Russia's former finance minister, Alexei Kudrin, said Tuesday.
“I support the stance that Russia should avoid military intervention in eastern Ukraine,” Kudrin told ITAR-TASS. “This could cause uncontrolled risks in economic, military and political spheres.”
A new round of confrontation might boost military spending on both sides given that Russia’s military budget is ten times smaller than that of NATO member states, he said. Kudrin added that Russia's GDP might fall, driving people's incomes down.The sectoral sanctions, targeting entire sectors of Russia's economy, would lead to economic slowdown throughout the year, he said. New sanctions in the energy and financial sectors could lead to negative growth rates, the ex-minister said.
Kudrin said the Russian leadership has chosen "the right way of the political resolution of the [Ukrainian] conflict," adding that further military confrontation would be difficult for Russia.