“Diplomacy is being replaced by sanctions,” Russian Foreign Ministry spokeswoman Maria Zakharova warned in an interview with RT television yesterday, and this is “undermining mutual trust and darkening the prospects for normalizing relations” between Russia and the collective West.
“The vicious practice of imposing unilateral political and economic restrictions, especially the extraterritorial application of such measures, is an infringement on the sovereignty of states and interference in their internal affairs aimed at keeping, at any cost, their [imposers’—ed.] dominant position in the global economy and international politics, which they are gradually losing,” she charged.
She discussed various measures which Russia is taking to defend itself: consolidating its national financial system, searching for new international partners, diversifying foreign economic ties while developing advanced, competitive domestic industries which lay the basis for substituting domestic products for what was previously imported. New legal mechanisms are being worked on, and legislation “providing for measures to counter new potential unilateral steps by the United States and other countries” is being drafted.
RT asked several questions about ways Russia might protect itself from restrictions on its access to Western financial systems. Zakharova noted that cutting Russia off from the SWIFT system for international settlement of payments “is so far considered a hypothetical scenario.” That said, work is underway on reducing Russia’s dependence on the dollar, a discussion that has been underway for at least a decade, she noted. She referenced that the 2007-2008 crisis “called into doubt the sustainability of the world currency system based on the supremacy of one national monetary unit.”
