Updated 6:49 p.m. Moscow Time
MOSCOW, October 23 (RIA Novosti) – The Russian government will severely punish any attempts to profit from Western sanctions, Kremlin Chief of Staff Sergei Ivanov said Thursday.
"Of course, prices for certain types of goods, including food, have increased. It is important that relevant authorities, like the [Federal] Antimonopoly Service and other watchdogs, kept an eye on that and prevented attempts to artificially inflate prices, which, of course, can be made by domestic sellers as well as a number of foreign suppliers. The authorities will crush such attempts," Ivanov told reporters.
Earlier on Thursday, a public opinion poll revealed that over half of Russian citizens express increased concern about the country's financial system because of the Western economic sanctions. However, according to the poll, the majority, or seven out of ten respondents had not revised their consumer habits yet.
According to the latest figures by Russia's central bank, Russia's annual inflation rate is currently over eight percent and growing. Such a trend had been provoked by the current geopolitical tensions and the effects they had on the ruble's exchange rate, as well as by decline in oil prices. According to the prognosis by the Russian Finance Ministry, the consumer price inflation will pass its peak in early 2015.
Over the past few months, the West has been trying to damage Russia's economy by implementing sanctions against the country over its alleged role in Ukrainian crisis. The sanctions target Russia's largest banks, energy and defense companies, as well as some individuals. As a result, Russia's economy showed a minor slowdown.
