Russia has caused tremendous destruction in Ukraine in the first day of fighting. Russian forces continue to advance into Ukraine. Russia has captured many cities and military attacks have also taken place in many residential areas. However, many countries including the US have strongly criticized this move of Russia and many restrictions have been imposed. In such a situation, it is being said that due to these sanctions, many problems will arise in front of Russia. However, now Russia's answer has come on this.
The Kremlin said on Friday that sanctions imposed on Russia for its invasion of Ukraine would create problems for Moscow, but those problems would be resolved, Reuters news agency reported. Kremlin spokesman Dmitry Peskov declined to comment on possible punitive measures against President Vladimir Putin and also said Russia has intentionally reduced its reliance on foreign imports to protect itself from the threat of sanctions.
At the same time, late on Friday, US President Biden said that we will put intense pressure on his biggest and most important financial institutions and major industries. These measures are ready to be implemented as soon as possible if Russia moves forward. We will impose long-term consequences that will undermine Russia's ability to compete economically and strategically.
Russia's counterattack on Britain's sanctions
Britain's Prime Minister Boris Johnson announced on Thursday that he would ban Aeroflot airlines in the country, outlining new sanctions on Russia in the wake of the attack on Ukraine. At the same time, retaliated to Britain, Russia has banned British Airlines from landing at its airports. In response to Britain's ban on Aeroflot, Russia's Civil Aviation Authority has banned UK flights in Russian airspace.
Crude oil prices cross $100 per barrel
Worldwide crude oil prices have crossed $100 a barrel due to the war. This increase in crude oil prices is also going to go in favor of Russia because Russia is a major producer of crude oil and gas. Apart from this, China has approved the import of wheat from Russia. Not only this, China has indicated to further enhance trade relations with Russia. Trade relations between the two countries have grown rapidly in the past several years. It is clear that Russia would like to compensate China for trade with America and Western countries and this can prove to be an effective plan to escape from its sanctions.
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