Russian retaliation against sanctions hurts its own economy - U.S.


  • World
  • Friday, 08 Aug 2014

NATO Secretary General Anders Fogh Rasmussen speaks during his meeting with Ukraine's Prime Minister Arseny Yatseniuk in Kiev August 7, 2014. REUTERS/Andrew Kravchenko/Pool

WASHINGTON (Reuters) - The White House made the case on Thursday that Western sanctions against Russia for destabilizing Ukraine have had a significant impact on its economy and that Russian retaliation by banning many Western food imports will only boomerang.

Russian President Vladimir Putin ordered his government to adopt the ban in response to Western economic sanctions on Russia's defense, oil and financial sectors over Moscow's support for rebels waging an insurrection in eastern Ukraine.

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