"Unilateral restrictive measures and attempts of exterritorial application of national laws are nothing but the remnants of archaic bloc mentality that cause the confrontational charge to accumulate in international affairs, and stand in the way of finding a joint solution to emerging problems," Lavrov said at a UN Security Council meeting.
The Russian foreign policy chief stressed that "the Security Council has been exclusively mandated to use sanctions mechanisms, according to the UN Charter."
Last year, Russia was targeted for sanctions by the United States, the European Union and their allies, including Japan, Canada and Australia. Several rounds of economic sanctions – specifically against Russia's sensitive banking, defense and energy spheres – were introduced starting in July over Russia's alleged involvement in the Ukrainian crisis. Russia has denied all allegations and retaliated by putting curbs on food exports from these countries.
In early February, Spain estimated that sanctions had cost the European Union 21 billion euros, or almost $24 billion. A study by a Russian audit and consulting group, FBK Grant Thornton, showed that in 2014 the Russian economy lost 121.4 billion rubles ($2 billion), which is 0.2 percent of its GDP.
