In his interview last Saturday Russian Prime Minister Dmitry Medvedev said that Russia should prepare for the fact that it will be living under sanctions for an indefinitely long time.
“Look what our friends both overseas and in Europe do: they perpetuate the sanctions, they codify them. They introduce many laws, in addition to all executive decrees that Obama signed,” said Medvedev.
“They are trying to pass laws that will make these sanctions permanent. Like the Jackson-Vanik amendment, or even worse,” he added.
The head of the government stressed that considering all this Russia should not count on any mercy, but it is not necessary, since it was proven that the country is able to develop under the sanctions.
“All of what we have achieved in the industry and agriculture was made not ‘thanks to’, but ‘despite’. Mainly because we were forced to restructure our work,” said Medvedev.
After Russia’s annexation of the Crimea and the outbreak of hostilities in the south-eastern Ukraine in 2014, the United States and several other countries introduced sanctions against Moscow, limiting access to financial markets, investments in the Russian economy, working with a number of companies, and transferring of technologies. In response, Russia banned the import of certain products from countries that joined the sanctions.
The Jackson-Vanik amendment to the U.S. Trade Act was adopted in 1974. It denies the status of ‘most favored nation’ to certain countries with non-market economies that restrict human rights, including emigration. In November 2012 the U.S. House of Representatives passed a bill that repealed the amendment for Russia.