Minister Anton Siluanov said the Russian economy has proved to be resilient to external restrictions in recent years, adding its flexible macroeconomic structure and a balanced budget policy can ensure the economy’s swift adaptation to unfavorable external conditions.

The United States earlier announced its second round of sanctions over the Skripal case. Accordingly, the United States will oppose the extension of any loan or financial or technical assistance to Russia by international financial institutions. The sanctions will also restrict Russia’s access to the US market for primary issuance of non-ruble denominated Russian sovereign debt and US-origin items that are strategically important to Russia’s chemical and biological weapons program.

The second round of sanctions goes into force on August 19 and will be in effect for a year.