Dmitry Peskov, the Russian presidential spokesman, has strongly criticized the European Union's 12th package of sanctions against Russia, labeling it as "sanctions madness." Peskov's comments were made during a briefing with reporters on December 19, 2023.
Peskov specifically addressed the EU's sanctions on Russian diamonds, stating that Russia was prepared for this move and had measures in place to circumvent these restrictions. "I don't think there are any options to circumvent these sanctions. They exist, they will be implemented," Peskov affirmed.
In response to the EU's latest sanctions, Maria Zakharova, Russian Foreign Ministry spokeswoman, announced that Russia would develop retaliatory measures. These actions, according to Zakharova, are currently being formulated.
Georgy Ostapkovich, Director of the Center for Business Tendency Studies at the Higher School of Economics, commented to Izvestia that the EU's new sanctions are unlikely to inflict significant harm on the Russian economy. He suggested that the EU has cornered itself, with its anti-Russian sanctions leading to losses of approximately $1.5 trillion, mainly due to the high cost of energy resources and resultant production declines.
The EU's 12th package of sanctions, approved on December 18, includes new export restrictions against Russia on dual-use products and technologies. It also bans the direct or indirect import, purchase, or transfer of diamonds, including jewelry, from Russia.
Russian President Vladimir Putin, in a previous address at VTB's investment forum "Russia Calling!", had emphasized the stability and steadiness of Russian banks despite the sanctions. In September, Putin declared that the Russian economy had moved past the recovery stage and had withstood unprecedented external pressure.
This latest development in the ongoing sanctions saga reflects the deepening tensions between Russia and the European Union, with both sides preparing for further economic and diplomatic challenges. The impact of these sanctions, as well as Russia's countermeasures, will continue to unfold in the global political and economic landscape.
