Deputy Chair of the Security Council of the Russian Federation Dmitry Medvedev has warned France to be careful in its response to the Russia-Ukraine conflict, saying history has shown that economic wars usually turn into real ones.
Medvedev who is Russia’s former president and prime minister was responding to French Finance Minister Bruno Le Maire declaration of an “all-out economic and financial war”.
Le Maire described sanctions packages against Russia as proving “extremely effective”.
“We’re waging an all-out economic and financial war on Russia,” Le Maire told France Info radio. “We will cause the collapse of the Russian economy.”
Medvedev quickly issued a warning to France over the minister’s remarks.
“Today, some French minister has said that they declared an economic war on Russia. Watch your tongue, gentlemen! And don’t forget that in human history, economic wars quite often turned into real ones,” he tweeted.
Le Maire has since withdrawn his remarks saying the term “war” was not compatible with France’s efforts to de-escalate tensions surrounding the Ukraine conflict.
“We are not in a battle against the Russian people,” the minister said.
Following Russia’s attack on Ukraine last month, the United States and European countries have imposed sanctions on Russia’s central bank, businesspersons and officials, including President Vladimir Putin himself.
According to a Reuters report, Russia has turned from a lucrative bet on surging oil prices to an uninvestable market due to the sanctions.