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Russia Says Sanctions Will Also Affect US

Wed, 30 Jul 2014 20:23:04 +0000

iStock/Thinkstock(MOSCOW) -- The U.S. and its European allies have slapped yet another round of sanctions on Russia -- punishment, they say, for Russia's continued meddling in Ukraine.

But Russia says the sanctions will also hurt the U.S. and do a little more than harm relations between the two countries.

Russian officials, meanwhile, are defiant, declaring that Russia will make up the difference on its own. Russia's Central Bank said it would help financial institutions that were hit by sanctions, including the giant VTB.

But privately, economists and businesses reportedly worry these latest sanctions will push the fragile Russian economy towards recession, even as the latest independent poll finds nearly two thirds of Russians think sanctions won't affect them.

Copyright 2014 ABC News Radio

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