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Russia Dismisses Industrywide Sanctions as Empty Threat

Russia is confident it won’t face industrywide sanctions over its policies in Ukraine because trade bans would hurt the world economy, especially Europe’s, Russian Economy Minister Alexei Ulyukayev said.

The threat from the U.S. and Europe that Russia will face sanctions on entire sectors “is like a nuclear weapon -- nobody uses it,” Ulyukayev said yesterday in an interview with Bloomberg Television at the St. Petersburg International Economic Forum.