Moscow: Russian President Dmitry Medvedev in his New Year address praised Russians for weathering last year's economic hardships, urging them to take heart as hard times are unlikely to be over.

"This year our country went through dramatic trials, but overcame them with confidence and dignity thanks to you, its people. I am convinced that whatever hardships lie ahead, we will be able to weather them," Medvedev said.

"Numbers on the calendar may change, but love,friendship, loyalty, compassion and mercy remain our support for all time, and give us strength not only to overcome difficulties, but to rise to new heights," the Russian leader said.

The global economic crisis threatened Russia's newly-found prosperity, as the surging stock market suffered losses of at least one trillion dollars and the ruble plunged to a three year low against the dollar, with the interior ministry warning of possible social unrest.

Russia's war with Georgia in August over the breakaway region of South Ossetia saw Moscow's relations with the West plunge to a low unseen since the days of Communist rule.
Source : PTI