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Amid an ongoing war between Russia and Ukraine, Former Russian president Dmitry Medvedev has said that sanctions placed on his country will have a wide range of global consequences, Newsweek reported.

Russian President Vladimir Putin on 24 February had launched a ‘special military operation’ on the East European country Ukraine. 

This led to several economic sanctions being imposed on Russia by the West. the sanctions has also punished countries which will do business with Moscow. Owing to this, Russia is facing uncertain economic future crisis.

However, Medvedev from lashing out at the US and its allies. He said that the effects of these sanctions will be felt across the globe.

Medvedev made the predictions on his Telegram channel on Friday, according to Newsweek report, in which he outlined in 10 bullet points that impact the supply chains, inflation and food crisis.

He also predicted that the restrictive measures would harm the global financial system, potentially triggering a monetary and financial crisis in some countries or blocs as a result of the undermining of the stability of a number of national currencies, rampant inflation, and the breakdown of the legal system protecting private property.

Many aspects of life, according to the politician, will be affected. "New regional military conflicts will emerge in those places where the situation has not been resolved peacefully for years or where the substantial interests of major international players are ignored. Terrorists will become active who think that the Western authorities are currently diverted by the showdown with Russia," he wrote.

He further said that "the collapse of the idea of ​​an American-centric world" as all this will highlight the weakness of the West's concepts of international relations, the Newsweek report said.

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