“Regardless of numerous problems that we face, including financial ones, we still need to make decisions concerning the tasks that we have set before us,” he said at a government meeting to discuss the economic development of Russia’s Far East.
The Russian economy has been suffering from a decline in the price of oil and sanctions levied on the country by western nations, including the United States and the European Union over Moscow's alleged involvement in the Ukrainian crisis, a claim that Russia has repeatedly denied.
The sanctions target the finance, defense and energy sectors of the Russian economy, as well as specific individuals.
On Tuesday, the ruble saw its most dramatic fall in value in history, with one dollar worth over 80 rubles and one euro worth over 100 rubles.
