Europe As EU, US unveil biting new sanctions, Russia ready to soldier on

Though Western new sanctions on finance, energy, and other sectors will hinder Russia's long-term growth, economists say, the country will not suffer any short-term effects.

By , Correspondent

Reuters

Moscow is bracing for a new round of sanctions from the European Union and the US, which for the first time will strike at key Russian businesses like finance, energy, and arms. Some Western commentary suggests that these measures will hit Russia hard, and possibly undermine President Vladimir Putin's power base.