Novak called sanctions an outdated form of influence on countries

Sanctions are an outdated form of influence on certain countries today, and they are not necessary. Alexander Novak, Deputy Prime Minister of Russia, told Izvestia on June 18 on the sidelines of SPIEF 2025.

"If we talk about the economy, then any sanctions are an unnatural process concerning economic relations between economic entities. Therefore, sanctions are basically some kind of atavism that only prevents us from working. Therefore, they are certainly not needed," he said.

According to Novak, Russian business is actively developing today, including in terms of import substitution.

"[Domestic business] occupies the niches previously occupied by foreign companies, so, of course, we welcome and will support this, and act not to the detriment of our business, but to ensure that our business continues to develop," concluded the deputy chairman of the Government of the Russian Federation.

Counter act: Russia will respond to the 18th package of EU sanctions

How can the Russian Federation react and how much will the European Union lose from the new restrictions

Dmitry Birichevsky, director of the Department of Economic Cooperation at the Russian Foreign Ministry, said on June 8 that the European Union continues to impose new sanctions against Russia, despite its own economic losses, because "otherwise it will lose face." The diplomat stressed that the economic situation in some European countries continues to deteriorate amid the sanctions policy.