Moscow has dismissed the new punitive measures in the EU's 14th sanctions package against Russia,saying the sanctions are ineffective and will actually hurt the European Union.
The West is not looking at the consequences for its own economy or for the prosperity of people in the EU, said Deputy Foreign Minister Alexander Grushko in Moscow. Russia expects economic growth of over 3% this year, more than 10 times that of Germany, for example.
"The purpose of the sanctions was to strangle the Russian economy and destroy the cohesion of society. The EU has achieved the opposite," said Grushko. Russia also warned of a renewed rise in EU energy prices.
The foreign ministers of the 27 member states approved the sanctions in Luxembourg along with other new punitive measures due Russia's war against Ukraine.
On Monday evening, the Russian Foreign Ministry announced that, in return, additional representatives from politics, business and institutions from the EU would be banned from entering Russia. No details were given.
The Russian armaments holding Vysokotochnye Kompleksy (High Precision Systems) announced that the sanctions against its companies, including a tank factory, were a sign of recognition that the military complex was working successfully. The sanctions would have no impact on weapons production in the future, it said.
As for the EU's liquefied natural gas (LNG) sanctions against Russian's multi-billion dollar LNG sector - the first time the sector has been hit with such measures - Russian analysts spoke of a blow to LNG producers.