For several days now honest analysts have been discussing the crippling economic sanctions placed on Russia by the US and European allies.
The economic sanctions on Russian banks have crippled its stock market. The Russian stock market will remain closed until Tuesday at least.
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Following several measures from Western countries to isolate Russia’s economy, the ruble lost over 30% of its value against the U.S. dollar just this week.
Russian President Putin is calling the sanctions imposed by Joe Biden to be akin to a “declaration of war”.
American Military News reports:
Russian President Vladimir Putin said on Saturday that the sanctions posted by the U.S. and other Western countries are equivalent to a declaration of war. He added that any nation that imposes a no-fly zone over Ukraine would be entering an active war.
“These sanctions that are being imposed are akin to a declaration of war but thank God it has not come to that,” Putin said on Saturday, as reported by Reuters.
Advertisement - story continues belowHe said that any country that imposes a no-fly zone over Ukraine would be involving itself in an active military conflict.
“We will immediately consider them as participants in a military conflict, and it doesn’t matter members of which organizations they are,” Putin said. “It is impossible to do it, on the very territory of Ukraine, it’s possible only from the territory of some neighboring states. But any movement in this direction will be considered by us as participation in an armed conflict.”