Putin refrains from further retaliation against West's sanctions, mocks the measures

FXStreet (Łódź) - Following the announcement of additional sanctions against Russia by the EU and the US, Moscow initially reacted by imposing travel bans on several US officials. There were further plans for a “mirror response” but today Vladimir Putin said at a a meeting of his security council that there would be no retaliation for now. He also withheld the implementation of a visa regime for Ukrainians.

Moreover, the Russian president mocked the decision of the US yesterday to sanction Russia's fifth largest financial institution, Bank Rossiya, by saying that he would open an account there now.
Meanwhile, both Fitch Ratings and Standard and Poor's revised Russia’s credit rating outlook from stable to negative on Thursday, on concerns with the impact of the West's sanctions on the country's already fragile economy.

Also in the European morning the Russian parliament unanimously voted in favor of ratifying the treaty on the annexation of Crimea.