Blinken promised that Russians will feel the effect of Western sanctions Sanctions against Russia have had a "dramatic" effect on its economy and financial system, said US Secretary of State

Western sanctions have already had a "dramatic" effect on Russia's economy and financial system, and Russians will feel their impact on daily life, US Secretary of State Anthony Blinken said at a press conference. The sanctions have deprived Russia of access to a wide range of goods and technologies, made the ruble unstable and will lead to a 10-15% drop in its economy in 2022, a US official said.

“At some point, despite the propaganda, the people of Russia will feel it in their daily lives,” Blinken promised.

The head of the State Department also said that the United States and partners will continue to tighten sanctions until hostilities cease in Ukraine.

The US, EU, UK and other countries began to impose sanctions against Russia because of the special operation in Ukraine. The restrictive measures affected the reserves of the Central Bank, the export of a wide range of technologies and goods to the country, the activities of Russian banks, including Sberbank and VTB, businessmen and their property in the West, as well as officials and politicians who, according to the authorities of Western countries, are involved in a special operation in Ukraine .

The Russian authorities have repeatedly declared the illegitimacy of unilateral restrictive measures, and also indicated that they have a serious negative impact on the economies of those countries that introduce them. Thus, Russian President Vladimir Putin estimated the possible losses of the EU from sanctions against Russia at $400 billion.