BELGRADE, December 22 /TASS/. Vladimir Yakunin, the head of the Russian Railways joint-stock company, said on Monday that Western countries have declared an economic war on Russia.

“I believe that the term ‘sanctions’ is being used to cover up for one simple circumstance that an economic war is being waged against Russia,” Yakunin told Serbian journalists when asked how Russia was living in conditions of western sanctions and the weak ruble.

Asked for how long Russia can endure under the sanctions, Yakunin replied, “We are going to stand for as long as necessary. One cannot win love against someone’s will. We are going to make friends and cooperate with those who want a balanced, I emphasize, a balanced world,” Yakunin said.

The Russian Railways chief noted that the weak ruble had not yet produced any major impact on the company’s operations because Russian Railways earns its main profits in roubles. “We spend about 4% of the general budget on imports. We have drawn up our fiscal plan and adopted the budget according to which we are going to work,” Yakunin said.