UPDATE: PM: Russia reserves right to retaliate against US sanctions

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GORKI, Moscow Region, Apr 9 (PRIME) -- Russia reserves the right to retaliate against the new U.S. sanctions including with measures affecting the current trade agreements, Prime Minister Dmitry Medvedev said at a meeting with his deputies on Monday.

“These decisions are absolutely inacceptable, we see them as illegitimate because they are totally outside the framework of international law. And sure, we reserve the right to retaliate (with measures), including the current trade agreements and procedures,” Medvedev said. He also said that the sanctions are a hindrance for normal operations of Russian companies represented globally.

Deputy Prime Minister Arkady Dvorkovich said that Russia will support the companies which were hit by the new U.S. sanctions.

“There will be support in any case,” Dvorkovich said. “There is constant support of these companies as well. We treat our companies really attentively, they have staff of many thousand people, important workplaces for the country.”

Medvedev ordered to elaborate the support measures.

Earlier in April, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including Viktor Vekselberg, Oleg Deripaska and Suleiman Kerimov.

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.

According to Medvedev, Washington’s goal is to solve its economic issues using non-competitive measures. “As in the former sanctions actions, we see an evident and simple pragmatic goal to achieve economic goals through noncompetitive means.”

U.S. President Donald Trump has always spoken in favor of protectionism, Medvedev said.

Presidential spokesman Dmitry Peskov said that President Vladimir Putin has not scheduled meetings with the businessmen hurt by the sanctions so far. The Kremlin is attentively monitoring the stock market and coordinating activities with the government, he said.

“The government does everything necessary to minimize negative consequences,” Peskov said.

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