Moscow's economy functioning stably amid sanctions - Sobyanin

MOSCOW. March 10 (Interfax) - The economy of the City of Moscow is functioning stably amid the sanctions imposed following the launch of the special operation in Ukraine, Moscow Mayor Sergei Sobyanin said on Thursday during a meeting with the directors of Moscow's trade and service enterprises.

"We have been actively communicating in recent days with the various areas of business in order to identify problem areas, directions, and support measures for developing the city's economy. Overall, the situation is normal and stable, though we have seen an increase in sanctions pressure and the desire to disrupt or bring down our economy. I think that nothing will come of these plans. We have weathered a number of severe crises in recent years, including the crisis associated with the coronavirus pandemic. We have overcome all of these challenges together with you, with the support of the Russian government, and with the support of the city. We will also overcome today's challenges," Sobyanin said during the meeting.

Moscow's mayor stressed that the city's authorities and entrepreneurs "need to work as closely as possible, listen to each other, and develop adequate measures and implement them quickly."

"A special commission has been established in the city to monitor and support the economic situation. We have outlined the activities of the commission as being job preservation; issues related to import substitution; matters related to social support; and ensuring employment. All of these areas concern each of our industries," Sobyanin added.