Putin calls for “mutually acceptable solutions” to standoff with West
November 28, 2014, 10:47 am

The US, EU and its allies have hit Russia’s top bank and leading energy and technology companies with sanctions to punish Moscow for its alleged support to separatist rebels in Ukraine [PPIO]

In an interview to Turkish agency Anadolu ahead of a state visit to Turkey, Putin said the sanctions imposed on Russia by the EU, US, Australia and Japan over the Ukraine crisis are “not legitimate”.

The US, EU and its allies have hit Russia’s top bank and leading energy and technology companies with sanctions to punish Moscow for its alleged support to separatist rebels in Ukraine.

“Such pressure not only causes direct economic damage, but also threatens international stability. Attempts to use the language of ultimatums and sanctions in talks with Russia are absolutely inadmissible and have no chance for success,” he said.

“We hope that common sense will prevail. We call to abandon the distorted logic of restrictions and threats and to search for mutually acceptable solutions to outstanding issues,” he added.

The Russian economy is bearing the brunt of Western sanctions over the Ukraine crisis, said Russian Finance Minister Anton Siluanov earlier on Monday in Moscow.

“We are losing around $40 billion in a year because of sanctions and another $90 to $100 billion because of a 30-percent drop in oil prices,” Siluanov said.

The Russian President on Friday lauded Turkey’s decision not to join in the sanctions imposed by the West on Moscow.

“We highly value independent decisions by Turkey, including on economic cooperation with Russia. Our Turkish partners refused to sacrifice their interests for somebody else’s political ambitions. I consider that to be a really well-weighed and far-sighted policy,” Putin said on Friday.

Earlier last week, Russian Foreign Minister Sergey Lavrov alleged Washington is seeking to achieve a regime change in Russia and is instigating Moscow’s closest allies to join in the punitive sanctions.

“We have a million confirmations that all over the world American ambassadors, envoys are insisting on top-level meeting to say – you should be punishing Russia jointly with us. This is done in all countries, no exceptions, including our closest allies,” Lavrov said.

TBP