Oct 2, 2014 7:26 AM

Putin: state will support sanctions-hit sectors

The Associated Press

MOSCOW (AP) Russian President Vladimir Putin says the state will offer support to sectors of the economy that have been hit by international sanctions, but says the country in general is unconcerned about the sanctions' consequences.

Putin said Thursday the sanctions, imposed by the United States, the European Union and others over Russia's role in the Ukraine conflict, violate basic principles of the World Trade Organization and obstruct international economics.

Putin, who was speaking to a major investment forum, added "we regard this calmly."

The ruble has fallen sharply as the sanctions have taken hold and Russian companies are severely restricted from borrowing on Western capital markets.

Putin said "the state is ready to provide support to those sectors and companies hit with unwarranted external sanctions."


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