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In reply to the discussion: China's top envoy to Germany has warned the West against punishing Russia with sanctions [View all]Lodestar
(2,388 posts)Russia is ready to retaliate with counter sanctions against the EU and US if they go ahead with economic measures against Russia over tension in Crimea, the Russian Economic Ministry has said.
"We hope that there will only be targeted political sanctions, and not a broad package affecting economic trade, Deputy Economic Development Minister Aleksey Likhachev said.
Our sanctions will be, of course, similar, he added.
One way Russia plans on shielding itself from pending sanctions is by boosting trade in other currencies, not the US dollar.
We need to increase trade volume conducted in national currencies. Why, in relation to China, India, Turkey and other countries, should we be negotiating in dollars? Why should we do that? We should sign deals in national currencies- this applies to energy, oil, gas, and everything else, Aleksey Ulyukaev, the Minister of Economic Development said in an interview with the Vesti 24 TV channel.
more - http://rt.com/business/russia-us-eu-sanctions-546/