Russia is planning to appeal to the World Trade Organization (WTO) over anti-Moscow Western sanctions, Russian Economy Minister Aleksey Ulyukaev has said.
“The latest round of sanctions provides grounds to appeal to the WTO. And we will appeal,” Ulyukaev told reporters on Friday.
The Russian minister also warned that Russia’s response to the new sanctions by the European Union and the United States may affect petrochemicals and machinery products.
“It requires further consideration. But our proposals on this issue are ready,” Ulyukaev said, pledging to support Russian firms hit by the sanctions.
Meanwhile, the Russian Foreign Ministry has lashed out at Washington over its policies, saying the US has adopted a confrontational course towards Russia.
“It’s the US that is banking on the escalation of Ukraine’s internal conflict and pressing Russia with sanctions,” the Russian Foreign Ministry said in a statement, adding that the new round of sanctions against Moscow comes at a time when a ceasefire has been reached in eastern Ukraine.
The imposition of counter-sanctions against the United States and the European Union “will not take long,” the ministry added.
The foreign ministry’s condemnation came after Brussels put into effect a new set of sanctions targeting particularly Russian oil and arms industries.
The bans also curb access to European capital markets for Russian firms and banks and limit exports of certain high-technology goods to Russia.
Furthermore, a total of 24 individuals were put on a blacklist of people facing travel ban and asset freeze.
The European Union and the United States have imposed several rounds of economic sanctions against Russia over Moscow’s alleged involvement in the Ukrainian crisis.
Washington and the EU accuse Moscow of sending troops into eastern Ukraine and arming anti-government militants in eastern Ukraine. Russia denies the allegations.
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