"The banking sector will face certain difficulties, we'll have to revise the terms of some projects, including those with European participation," he said. "But the Russian economy has sufficient resources to tackle these problems," as ITAR-TASS quotes Chizhov talking in Brussels.
He also said the economic damage to EU countries will be comparable, or maybe bigger, than that to the Russian economy.
“If the EU tries to introduce penalties against their companies for violating the sanctions, that’ll have a worse result for themselves,” Chizhov said.
On Thursday the EU added five Russian banks, including the country’s biggest state lenders - Sberbank and VTB – to its sanctions list.