Putin says he will never bow to US but concedes sanctions may cause some losses'

"The US on Wednesday imposed sanctions on Rosneft and Lukoil, as well as nearly three dozen of their subsidiaries, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The EU separately discussed a loan for Ukraine secured on frozen Russian assets and agreed to a phased ban on the import of Russian liquefied natural gas."

"No self-respecting country ever does anything under pressure, Putin added in comments to Russian journalists. While he said the new sanctions would not have a significant impact on Russia, he acknowledged that some losses are expected. He also suggested that Trump should think about who his administration is really working for when advisers urge him to impose sanctions on Russian oil, and warned that the measures will lead to a rise in prices."

Washington imposed sanctions on Rosneft, Lukoil and three dozen subsidiaries to choke off oil revenues funding the Kremlin's war machine. The measures follow UK sanctions and are the first against Moscow since Donald Trump returned to the White House. The sanctions contributed to a 5% increase in global oil prices and China and India scaled back Russian oil imports. The EU discussed a loan for Ukraine secured on frozen Russian assets and agreed a phased ban on Russian liquefied natural gas. Vladimir Putin called the sanctions unfriendly and futile, acknowledged some losses, and warned of price rises and a strong response if Russia is attacked.

Read at www.theguardian.com