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Kremlin warns US over potential sanctions

 
 
 
 
 
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A Russian official says potential sanctions by Washington against Moscow would lead to the “crash” of the US financial system and end its global financial domination.

Kremlin economic aide Sergei Glazyev said on Tuesday that Russia will reduce its economic dependency on the United States if Washington decides to impose sanctions against Moscow over the issue of Ukraine.

“We would find a way not just to reduce our dependency on the United States to zero but to emerge from those sanctions with great benefits for ourselves,” Glazyev said, adding that Russia could stop using dollars for international transactions.

“An attempt to announce sanctions would end in a crash for the financial system of the United States, which would cause the end of the domination of the United States in the global financial system.”

The comments came a day after US President Barack Obama threatened Russia with sanctions.

If Russia continues its deployment of troops in Ukraine’s Crimea, the United States will take a “series of steps – economic, diplomatic – that will isolate Russia and will have a negative impact on Russia’s economy and its status in the world,” Obama stated.

In an interview with a US news network a day earlier, US Secretary of State John Kerry also warned Russian President Vladimir Putin over the deployment of Russian troops to Crimea, saying Russia could be ousted from the G8 developed nations if it continues on present path.

Kerry also threatened that Washington could target Russia’s state-run financial institutions and freeze assets of top-ranking Russian officials involved in the Crimea crisis.

Moscow’s military deployment to Crimea comes after Russia’s parliament gave the green-light to president Putin to use military forces to protect its interests in the Black Sea territory.

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  • nic

    =))
    If Russia had the means to do this they would have done it long ago. These are nothing more than empty threats.

  • Old Nam Vet

    I fully realize there are varied opinions on the matter of reliance on the dollar as the currency for international transactions. I believe China and Russia have signed a cooperative trade deal that trades in Yuan as the basis of the agreement. The world is moving away from the dollar and no amount of normalcy bias is going to change that. This could be the nail is the dollars coffin and an excuse for Russia and China to finally dump the Dollar… Here is one of many links to the deals I’m referring to – http://www.atimes.com/atimes/China_Business/NE03Cb01.html

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