Russia: New EU sanctions will hurt global economy, hopes for food export progress

Russia's foreign ministry on Thursday said the latest round of European Union sanctions were illegitimate and would have "devastating consequences" for security and parts of the global economy. European Union diplomats on Wednesday agreed on a new round of sanctions against Moscow for invading Ukraine, including a ban on importing gold from Russia and freezing the assets of the country's top lender Sberbank.

Russia's foreign ministry on Thursday said the latest round of European Union sanctions were illegitimate and would have "devastating consequences" for security and parts of the global economy.

European Union diplomats on Wednesday agreed on a new round of sanctions against Moscow for invading Ukraine, including a ban on importing gold from Russia and freezing the assets of the country's top lender Sberbank. "The European Union is continuing to drive itself into a dead end with enviable persistence," ministry spokeswoman Maria Zakharova said in a statement attacking the latest measures.

"The devastating consequences of EU sanctions on various segments of the global economy and security ... are becoming increasingly obvious," she said. Zakharova noted the 27-nation bloc proposed to ease some earlier sanctions in a bid to safeguard global food security and said Moscow hoped this would create conditions for the unhindered export of grain and fertilizers.

"Unfortunately, we know there is a huge gap between the EU's declared intentions and what it actually does," she said.