Russian President Vladimir Putin said on Wednesday that western sanctions imposed in response to Moscow's military offensive in Ukraine could have "negative" consequences on the country's economy.
To counter these effects in the medium term, Putin told members of his government that Moscow needs to ensure a steady increase in domestic demand, noting that the demand has become a leading factor of Russia's economic growth.
Meanwhile, the European Union began work on an 11th set of sanctions against Russia over its attack on Ukraine, according to a last week's report.
