Economy 05-11-2018

Russia warns that US sanctions will hurt the US economy

The US introduces sanctions to stifle competition, but the restrictions will ultimately result in damage to the US economy, said Russian Prime Minister Dmitry Medvedev, speaking with Internet users in the frame of his visit to China.

Medvedev noted that recently steps are being taken to "stifle competition and put under very strict control the system of free exchange of goods and services."

"It is the policy of several countries and the biggest of them is probably the USA, which imposes restrictions and tariffs against China, against the European Union and also against Russia, but I am convinced that after all the US economy will be damaged as well. "for these restrictions, said the head of the Russian Government.

According to Medvedev, "protectionism is undoubtedly a negative phenomenon for the world economy."

"It is true that there was always, however, in recent years most countries respected the rules developed by the World Trade Organization," he said.

The prime minister stressed that Russia considers that "humanity has not yet created" another system that surpasses the mechanisms established by the WTO.

Medvedev also stated that Russia and China start from the fact that international disputes must be resolved at the UN.

"Russia, like China, is a permanent member of the UN Security Council and therefore we have a special mission to approve the decisions that are important for all humanity," Medvedev stressed at the time of noting that both Moscow and Beijing "They start from the fact that the UN is the only integral platform to solve various international problems and disputes.

The head of the Russian Government questioned at the same time the competence of "invented virtual organizations" to deal with matters of importance.

Medvedev added that Russia and China collaborate intensively in the field of security and also in the face of new challenges such as cybercrime.

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