Russia to spend $9 billion to support economy hit by international sanctions: PM

AP , Tuesday 15 Mar 2022

Russian Prime Minister Mikhail Mishustin says the country aims to spend around 1 trillion rubles ($9 billion) on measures to support an economy hit by international sanctions.

Mikhail Mishustin
File Photo: Russian Prime Minister Mikhail Mishustin leads a cabinet meeting on economic issues in Moscow, Russia, Friday, March 11, 2022. AP

Mishustin said the government would work with other ex-Soviet countries to reshape their trade relationships with a focus on helping Russia to get the imports it needs.

Mishustin said the measures aim to ``ensure the maximum flexibility for the economy, remove internal restrictions on business and give more freedom to entrepreneurs.''

Russia's economy has been disrupted after foreign companies in a wide range of industries suspended their operations in Russia following the invasion of Ukraine.

The government's responses so far have included programs to support lending to businesses, suspending some regulatory processes, and restricting exports of grain and sugar.

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