Obama: Russia’s economy has stalled because of sanctions

U.S. President Barack Obama believes that the Russian economy has “stalled” as a result of applying Western Sanctions. Speaking at a press conference in Washington, Obama said that “sanctions are working in the expected way, thus putting enormous pressure on the Russian economy”.

In Obama’s opinion, in this situation the Russian leadership stands before a choice. It should either go to the settlement of the situation in Ukraine, acknowledging the sovereign rights of that Republic, or to continue the current policy, which may lead to stepping up the Western sanctions.

Commenting on Russia’s having put a veto on the import of agricultural products, raw materials and food, the White House Spokesman Laura Lucas Magnusson said in turn, that “retaliate actions against Western countries and Western companies will deepen Russia’s international isolation and will have further negative impact on its economy.”

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