Russia’s Security Council said on Saturday it views strengthening economic sovereignty as a top priority, and is seeking to offset Western attempts to trigger a financial crisis in the country.

The Council is currently working on “improving the quality of life of Russians, ensuring macroeconomic stability and balanced territorial development of the country.”

“Developing measures aimed at blocking Western attempts to stage-manage an economic crisis in Russia, which carries the threat of social instability in the country, also acts as a principal focus,” the Security Council said in a statement seen by Interfax news agency.

The US, the EU and their allies have introduced several rounds of unprecedented sanctions against Russia since the launch of Moscow’s military operation in Ukraine. The penalties have affected entire sectors of the Russian economy, as well as businesses and individuals, including President Vladimir Putin.

Some $300 billion of Russia’s foreign currency reserves have been frozen, while exports and imports of a wide range of products have been restricted.

On Friday, Putin said certain “ill-wishers” were stepping up efforts to destabilise Russia, and urged members of the cabinet not to allow this “under any circumstances.”

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