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Former Russian President Dmitry Medvedev.
Former Russian President Dmitry Medvedev.Mikhail Svetlov/Getty Images
  • Western sanctions will cause the Russian economy to collapse, according to France's finance minister.

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A top Russian official appeared to threaten France with real war on Tuesday as he responded to saber-rattling comments from the French finance minister about the effects of Western sanctions.

Bruno Le Maire said in an interview with French radio that the West wanted to cause the collapse of the Russian economy through an economic and financial war.

The former prime minister of Russia was quick to respond on the social networking site.

A French minister said today that they have declared an economic war on us. Gentlemen, watch what you say. In the history of mankind, economic wars have often turned into real wars.

Western nations have placed sanctions on Russia, targeting everything from the central bank to the financial institutions.

The Russian economy seems to have been disrupted by the sanctions. The ruble crashed against the US dollar on Monday, causing Russia's central bank to raise its base interest rate to 20%. Russians were at ATMs trying to withdraw foreign currency.

In an interview with France Info on Tuesday, Le Maire said that economic and financial sanctions leveled by the West against Russia were extremely effective. We will wage an economic and financial war on Russia.

He said that they want to target the heart of the Russian system and also the entire Russian economy.

We are already seeing the effects of the sanctions. The ruble is collapsing. Russian foreign exchange reserves are melting like snow in the sun, and Putin's war chest has already been reduced to almost nothing.

The collapse of the Russian economy is going to be caused by Le Maire.

On Monday, the US rolled out fresh sanctions intended to stop Putin from accessing a $630 billion foreign exchange fund. The European Union and the UK have similar sanctions.

The original article is on Business Insider.

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