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Putin, Russia’s Security Council to talk measures on protecting economy amid sanctions

July 03, 2015, 8:52 UTC+3 MOSCOW
The discussion will be held amid the new wave of sanctions pressure from the Western countries that have decided to extend the earlier adopted decisions against Moscow
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Russian Security Council meeting (archive)

Russian Security Council meeting (archive)

© Alexey Nikolsky/Russian presidential press service/TASS

MOSCOW, July 3. /TASS/. Russian President Vladimir Putin is due to hold a meeting of the Security Council on Friday to discuss the measures on neutralizing national security threats amid international sanctions.

"The topic [of meeting] is devoted to measures on protecting Russia’s economy amid the continuing sanctions influence," Kremlin spokesman Dmitry Peskov has told reporters.

The head of the Security Council, Nikolai Patrushev, will make a major address at the meeting.

The discussion will be held amid the new wave of sanctions pressure from the Western countries that have decided to extend the earlier adopted decisions against Moscow. In response, Russia’s authorities were forced to prolong the counter-sanctions for one year.

Speaking at the St. Petersburg International Economic Forum last month, Putin said this standoff leads to mutual losses.

"We would naturally prefer not to respond to the destructive actions that some our partners are trying to impose, and by the way which they are imposing at a loss to themselves," the Russian leader said.

"There have been various calculations among our European partners: some have said that European manufacturers are losing around 40 to 50 billion. Now the most recent reports I saw and heard from Europe say that European manufacturers may suffer losses of up to 100 billion [euros]," he said.

Putin noted that the trade turnover between Russia and Europe dropped by nearly a quarter, while trade with the United States has grown by 5.6%

"I am sure and I know for certain that nobody wants any losses at all. We are experiencing a recession and many experts in the Eurozone are talking about stagnation. That’s why if we want to ensure the growth in the global economy, then we certainly need to eliminate various sanctions, especially unlawful ones imposed outside the framework of the United Nations," he said.

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