Kremlin shrugs off latest Western sanctions against Russia

Credit: REUTERS/SPUTNIK

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

Adds quotes, detail from paragraph three onwards

MOSCOW, Feb 26 (Reuters) - The Kremlin on Monday shrugged off the latest round of Western sanctions against Moscow, saying that Russia's economy had adapted to restrictions and that those imposing sanctions were hurting themselves with any new measures.

The United States on Friday imposed extensive sanctions against Russia, targeting more than 500 people and entities to mark the second anniversary of what Moscow calls its "special military operation" in Ukraine and retaliate for the death of Russian opposition leader Alexei Navalny.

"Nothing fundamentally new has been announced, and it is unlikely that anything fundamentally new can be thought up by those who impose these sanctions without harming their own economy," Kremlin spokesman Dmitry Peskov told reporters.

Last week's sanctions targeted Russia's Mir payment system, financial institutions and its military industrial base, sanctions evasion, future energy production and leading tanker group Sovcomflot, as well as other areas.

Sanctions also targeted prison officials the United States says are linked to Navalny's death.

"The Russian economy has demonstrated its resilience," Peskov said. "It has adapted and continues its development."

(Reporting by Reuters; Writing by Alexander Marrow; Editing by Mark Trevelyan and Ros Russell)

((alexander.marrow@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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