Next Six Years To Present Challenges For Russian Economy - Prime Minister

Russian economy will face certain challenges in the beginning of the next six-year period due to possible strengthening of protectionism and sanctions, Russian Prime Minister Dmitry Medvedev said Thursday

MOSCOW (UrduPoint News / Sputnik - 20th September, 2018) Russian economy will face certain challenges in the beginning of the next six-year period due to possible strengthening of protectionism and sanctions, Russian Prime Minister Dmitry Medvedev said Thursday.

"We all understand that the beginning of this six-year period will hardly be easy. We have to take into account the situation at the commodities and financial markets, and, to a no lesser extent, possible expansion of trade wars and strengthening of protectionism and sanctions' pressure," the prime minister said at a government session.

According to Medvedev, Russia will build its economic policy so as to "steadily develop even in these, let's put it frankly, less than favorable conditions.

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The prime minister added that another goal was to ensure the steady rise in the life quality of the Russians.

Russia has faced several rounds of sanctions since 2014 on part of the United States and the European Union over the disagreement on the Ukrainian internal conflict, the issue of Crimea's reunification with Russia and Moscow's alleged involvement in the internal affairs of other countries.

Russian officials have strongly refuted the allegations of Moscow's meddling in other states' affairs. Regarding Crimea, Moscow has repeatedly stressed that the peninsula's inhabitants voted to rejoin Russia at a referendum held in accordance with the international legal framework.