Russia · Ukraine

Russian Minister: Russia to lose $140 billion


Finance Minister Anton Siluanov and Vladimir Putin will discuss the G-20 meeting. Photo: Epa / Alexei Drudzhinin

Russia is getting kicked, hard, by Western sanctions.

According to the Finnland site YLE, Russia’s Finance Minister Anton Siluanov stated that Russia will lose $140 billion dollars due to Western sanctions, made worse by falling oil prices.

– What is happening to our economy? We are losing at least 40 billion dollars a year because of geo-political sanctions, and in addition 90 – $ 100 billion a year due to the decline in oil prices, Siluanov said, held in Moscow Economic Forum in his speech.

Furthermore, the sanctions are having a desired effect.

Russian State Duma Chairman Sergei Naryshkin sharply criticizes Western countries imposed sanctions, says Sputnik News news agency .

– Sanctions are nothing more than extortion, and a way to set us financial pressure, Naryshkin exclaimed Parliament and President of the joint meeting.

Well, duh. Get out of Ukraine.