August 7, 2014 / 4:05 PM / 3 years ago

Russian retaliation against sanctions hurts Russia's economy -U.S.

WASHINGTON, Aug 7 (Reuters) - Russian retaliation against Western sanctions triggered by Moscow’s efforts to destabilize Ukraine will hurt the Russian economy, White House economic adviser Jason Furman said on Thursday.

Speaking to reporters, Furman also said Western sanctions on Russia, which earlier this year annexed the Crimean peninsula from Ukraine, had not increased oil prices, caused “financial sector linkages” or had an overall impact on U.S. exports. (Reporting by Arshad Mohammed; Editing by James Dalgleish)

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