By James Slavyanski
MOSCOW
Russian Prime Minister Dmitry Medvedev has acknowledged Western sanctions have helped weaken Russia's economy and currency.
Medvedev told journalists in a question-and-answer session in Moscow on Wednesday that the fall of the rouble was caused by several factors, among them Western sanctions, falling oil prices and currency speculation.
Asked about the impact of the Western sanctions specifically, Medvedev said: "Our economy, probably, has lost tens of billions of dollars."
He said the weakening of the rouble had had "a certain impact on the budget, how it balances ... but, nevertheless ... a substantial weakening of the rouble is not advantageous for the state and the economy".
He said the sanctions were damaging the confidence of companies and ordinary citizens in the economy.
Sanctions were first levied against Russia in March by the U.S., EU, and several other nations in response to Russia's annexation of the Crimean peninsula.
Additional sanctions were later levied in response to alleged Russian involvement in the conflict in Eastern Ukraine.
Western officials say the sanctions mainly target key individuals and banks thought to be involved in, or potentially profiting from, activities in Ukraine.
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