Russia will shape its economic policy in such a way as to minimize its dependence on possible political risks, Russian Deputy Prime Minister Arkady Dvorkovich said on Tuesday.

Asked whether the Russian government had analyzed the likely impact of Western sanctions against Russia over Ukraine, Dvorkovich said, “We are constantly performing this analysis considering that fluctuations in the world economy have a much greater influence on Russia than any sanctions.”

He noted also that sanctions “cut both ways and have a negative impact on both sides”.

“Therefore, we consider any proposals for sanctions as a huge risk for those who initiate them,” Dvorkovich said, adding that the Russian government would anyway “pursue its economic policy in such a way as to minimize the dependence on political risks”.

“I suppose that the policy of the recent years lets us hope for good results,” he said. “We are working with all partners – both with Europe and American as well as with the Asia-Pacific region. Such diversification of our cooperation suggests sustainable development of our economy,” Dvorkovich concluded.