Russia creates anti-sanctions department at finance ministry

MOSCOW, Jul 20 (PRIME) -- Prime Minister Dmitry Medvedev signed an order to create a Finance Ministry department to counter sanctions against Russia and its companies to grant the ministry the right to communicate with foreign governments and international organizations on financial sanctions on Friday.

“The Finance Ministry shall coordinate the development and fulfillment of steps reducing the negative influence of restrictive measures in the financial sphere against Russia and the companies, with the other authorities,” the document said.

In 2014, relations between Russia and the West deteriorated to their worst since the Cold War due to a military conflict in Ukraine. The West introduced sanctions against some Russian individuals and firms and further against the energy and banking sectors. In response, Russia limited food imports from some countries, including the U.S., the E.U., Canada, Australia, and Norway.

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