A pro Russian resident rallies with others at a central square in Donetsk, Ukraine, Friday, March 7, 2014. Russia rallied support Friday for a Crimean bid to secede from Ukraine, with Russia’s top lawmaker assuring her Crimean counterpart that the region would be welcomed as “an absolutely equal subject of the Russian Federation.” (AP Photo/Sergei Grits)
WASHINGTON (AP) — Underlying the talk about taking harsh punitive measures against Russia for its military incursion into Ukraine are economic complications and worries that sanctions levied against Moscow could, in the words of the Kremlin, “boomerang” back on the U.S. and Europe.
Heavier U.S. and European Union sanctions could sting Russia’s already slow-growing economy and hurt its financial sector. But Moscow could retaliate and seize American and other foreign assets or cut exports of natural gas to Europe, which is heavily dependent on Russia for energy.
Russian Foreign Minister Sergey Lavrov on Friday warned Secretary of State John Kerry that U.S. sanctions could “backfire,” the Russian foreign ministry said in a statement. During a telephone call, Lavrov urged the U.S. not to take “hasty, poorly thought-out steps that could harm Russian-U.S. relations, especially concerning sanctions, which would unavoidably boomerang on the U.S. itself,” the statement said.
In a separate statement on Friday, the Russian Foreign Ministry also warned the European Union that any sanctions it imposed would not go unanswered and would harm “the interests of the EU itself and its member nations.”
Kerry underscored to Lavrov the importance of finding a constructive way to resolve the situation diplomatically, which would address the interests of the people of Ukraine, Russia, and the international community. Kerry and Lavrov agreed to continue to consult in the Login to read more