Anti-Russian sanctions to have long-term negative effects on world economy - Putin

MOSCOW, October 2. /TASS/. Anti-Russian sanctions are “complete foolishness”. They will have long-term negative effects on global economy, Russian President Vladimir Putin said. When answering questions at an investment forum on Thursday, the president said Moscow took the imposed anti-Russian sanctions easy. “We should not be fixed on it,” he added. “Restrictions, so-called sanctions, of course are complete foolishness from the governments that restrict their business, hamper its work, lower its competitiveness and vacate their place on such a promising market as the Russian one for their competitors,” Putin said. “We remain calm over it. It is a pity that fundamental principles of the WTO, world economy, market economy and business completion are violated, and confidence in international financial institutions and reserve currencies - the dollar and the euro - is undermined.” Such actions will do long-term, not seen at first glance, damage to the entire world economy, he said. “I would like to hope we will overcome the period and come to a stable trend of world economic development, and Russia will surely contribute to the work,” the Russian president said. Read related news on itar-tass.com