The economic war between Russia and the West is and will be painful for both sides, but Russia cannot possibly win it, said Latvia's Foreign Minister Edgars Rinkevics an interview to the Latvian Television show "Rita panorama", informs LETA.
Latvia's Foreign Minister Edgars Rinkevics
© DELFI / Tomas Vinickas

He explained that sanctions against a country had long-term effects, and they may seem insignificant initially.

"It is completely clear that the sanctions will begin to show impact after a longer period of time. It is a long-term instrument. However, in estimating how much it could affect Russia's economy and its international relations, I believe that Russia is incapable of winning an economic war, no matter how painful it will be for all the sides involved," Rinkevics said.

The minister said that Moscow is also estimating losses caused by the sanctions. "I would really like to hope that our colleagues in Moscow will understand that it is time to stop supporting the bandits [..] in eastern Ukraine and give a chance to Ukraine to develop the way it wants, and that this whole situation will definitely not benefit Russia," Rinkevics said.

Vilnius mayor: government not pulling out of stadium project

Vilnius Mayor Remigijus Simasius says Lithuanian Prime Minister Saulius Skvernelis has assured him...

New chief of defense: I am a realist and don’t dream about things we cannot have

Lithuania's incoming chief of defense , Major General Valdemaras Rupsys , says he will seek to...

Russian oil contamination suspect seeking political asylum in Lithuania

Roman Ruzhechko , a suspect in a Russian oil pipeline contamination probe who was detained in...

10 unreported moments: Grybauskaite's diplomacy behind-the-scenes

With Dalia Grybauskaite having ended her second term as Lithuanian president, here is a look at her...

Most-advanced US fighter jets land in Lithuania for 1st time

The United States' most-advanced fighter jets F-35 landed in Lithuania on Thursday.