Sanctions, Low Oil Prices Make ‘Toxic Cocktail’ for Russia: Nuland © REUTERS/ Maxim Zmeyev/Files

03:13 18.12.2014(updated 06:22 18.12.2014)

WASHINGTON, December 18 (Sputnik) — The Russian economy is suffering from a lethal mix of US-imposed sanctions, falling fuel prices and oil dependency, US Assistant Secretary of State Victoria Nuland said.

“But now we have a really toxic cocktail with the effect of sanctions, with low oil prices, with the impact finally being felt inside Russia of the economic mismanagement of the last ten to fifteen years, where the economy is so heavily hydro-carbon dependent,” Nuland said Wednesday during a discussion at the American Enterprise Institute (AEI).

Market indicators, according to Nuland, have shown that the combination of external pressure and Moscow’s policies have had a deleterious effect on the country’s financial situation.

“With regard to the effect of sanctions, the market information that we are seeing from Russia today is a clear indication that the isolation that the Kremlin has brought, the pressure that the US and Europe and others have brought to bear on the Russian economy is having an effect,” she added.

Through the use of political and economic tools, the US and its allies hope to change Russia’s choices and force it back into compliance with international law, she added.

Russia Will Not Only Survive, But Become Stronger: Russian Foreign Minister on Sanctions

“It is a point of decision-making for the Russian leadership, but also the Russian people, whether this aggressive policy vis-a-vis neighbors is worth it. And whether this choice to prioritize imperial ambition over the needs of your own citizens, over their well-being, is really in the best interests of the Russian Federation,” Nuland said.
Russian Deputy Foreign Minister Sergei Ryabkov said Wednesday that the United States has deliberately taken part in efforts to undermine Russia’s economy. US officials, Ryabkov added, have lately been commenting with satisfaction on negative trends in various segments of the Russian market.

The European Union and the United States have implemented several rounds of economic sanctions against Russia over alleged interference in the Ukrainian conflict. Russia has repeatedly denied the allegations.

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