Russian Prime Minister Dmitry Medvedev has told lawmakers the country can weather the sanctions imposed by the West over the situation in Ukraine.

In a televised speech to the Russian parliament Tuesday, Medvedev said he will not let Russian citizens become hostage to political games and unfriendly actions.

The prime minister said he is confident his government will be able to minimize the consequences of sanctions and that it will act under what he calls new conditions. He assured lawmakers that Russian industries that rely on support from other markets would get it from the government.

He said Russia has no plans to ease trade with the European Union, but pointed out that thanks to cooperation with other markets, Russia can minimize its losses.

The United States has said it is prepared to impose more sanctions on Russia if Moscow does not take steps to ease tensions in eastern Ukraine.

Washington and the EU have already imposed a travel ban and asset freeze on a number of Russian officials.

  Parliament, Prime Minister, Russia, Ukraine