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Moscow Stands Ready to Protect Financial Market From Sanctions and Other Threats, Russian Gov't Says

© Sputnik / Maksim Bogodvid / Go to the mediabankBanknotes printed at a printing factory of the Federal State Unitary Enterprise “Goznak” in Perm
Banknotes printed at a printing factory of the Federal State Unitary Enterprise “Goznak” in Perm - Sputnik International, 1920, 24.02.2022
On Wednesday, US President Joe Biden promised that the G7 and other American allies will slap "severe sanctions" on Russia, in a statement that came as Moscow started a military operation in Ukraine.
The Russian government has announced its readiness to take measures to protect the country's financial markets and major companies from sanctions and other threats.
"The government has formed clear-cut plans for measures to protect financial markets and individual companies from possible sanctions and other threats. As part of this work, simulations (stress tests) of the consequences of the imposition of sanctions have been carried out. As a result, clear action plans have been created. Financial markets and the largest companies are fully prepared for their implementation", the cabinet's press service said on Thursday.
The statement comes shortly after the European Commission said that it would soon propose a new package of sanctions against Moscow, threatening to target the Russian strategic sector.
European Council President Charles Michel and European Commission President Ursula von der Leyen said on Thursday that EU leaders will discuss new measures against Moscow in light of Russia's military operation in Ukraine at an extraordinary meeting later in the day.
The two said in a joint statement that during the gathering, EU leaders will discuss "further restrictive measures that will impose massive and severe consequences on Russia for its action, in close coordination with our [the bloc's] transatlantic partners".
The statement followed US President Joe Biden having a telephone conversation with Ukrainian counterpart Volodymyr Zelensky, during which POTUS said that America and its allies and partners will be slapping "severe sanctions" on Russia, also pledging Washington's support and assistance to Kiev.
He spoke after the EU and the US issued economic sanctions against Russian individuals and entities, with the Russian Foreign Ministry reacting by promising a strong response to the US sanctions. "There should be no doubt - the sanctions will result in a strong response, not necessarily symmetric, but well-calculated and painful for the American side", the Foreign Ministry said in a statement.
Earlier on Thursday, Russia announced a special operation against Ukraine, responding to calls by the Donetsk and Lugansk People's Republics for help in countering attacks by the Ukrainian armed forces, which have intensified over the past several days. Russia's Defence Ministry later specified that Ukrainian civilians are not in danger as the Russian military is launching high-precision strikes on Ukraine's military infrastructure.
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