UPDATE2: Putin: Brexit unlikely to impact sanctions, Russia ready for talks

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TASHKENT/MOSCOW, Jun 24 (PRIME) -- The U.K.’s Brexit vote is unlikely to influence the E.U. sanctions against Russia, but Moscow is ready to discuss them and take reciprocal steps, President Vladimir Putin said following a SCO countries’ summit on Friday.

“As for the sanctions, I believe that Brexit will have no influence on our relations with the E.U. in this field. These sanctions were not initiated by us, we just responded to the restrictions which were introduced against our country,” Putin said.

“I would like to stress once more: if our partners are ready to hold constructive talks with us on this issue one day – we are ready for it, we want it and will respond positively in return.”

A European Council representative told PRIME that the results of the referendum will not have an impact on the Russian sanctions.

“The decision has been made at the level of E.U. permanent representatives. The 50th article of the Lisbon Treaty has not been activated, and that is why it will not influence the future decision of the E.U. Council,” the representative said.

Putin also said that global markets are likely to recover in the middle term after the Brexit.

“The consequences will be global. I repeat: they are inevitable. They will be positive and negative. Of course, the markets will be under pressure, they have been already under pressure, but in the middle term they will certainly rebound,” he said.

The Russian government will analyze consequences of the British referendum in order to minimize its negative influence on the Russian economy, the president said.

“On the surface, some formal procedures, connected with a decision of Britons to leave the European Union, are forthcoming. We will keep a watchful eye on it, analyze, and try to minimize some negative consequences of this decision for our economy… We see now that while it hit the markets, currencies, it will inevitably influence and has already influenced the stock indices, so it will influence prices for traditional commodities, but I am sure that it will stabilize soon,” he said.

“We expect no catastrophe in connection with this. Of course, we will have an eye out for it and adjust our economic policy and relations with partners in Europe if needed.”

Finance Minister Anton Siluanov said that the U.K. decision to leave the E.U. will have a limited impact on the Russian economy.

“For Russia this means a falling oil price, a weakening ruble and growth of the financial markets’ volatility first of all,” Siluanov said. “The influence of this event will be limited.”

He said that Brexit is a warning for Russia to “be ready for negative scenarios of the global economic development” and be conservative in planning.

Siluanov called the U.K. decision a “black swan,” an unexpected event, and said that the global situation is now very fragile and the world is no longer following a steady track of globalization.

Economic Development Minister Alexei Ulyukayev said that the Brexit will not influence ministry’s forecasts, including forecasts of capital outflow and oil prices, and will have no impact on future privatization in Russia.

Markets will recover from the shock caused by Brexit in several days and commodities and currency prices will stabilize, Ulyukayev said.

“After that we will face a long period of uncertainty. I believe that now E.U. leaders do not understand very well what will happen in the future. A long period of negotiations will start, the issue concerning status of relations between ‘the E.U.-27’ and the U.K. will be considered,” he said.

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