The Russian economy was able to withstand the introduction of many sanctions by Western countries, caused by the start of a special operation in Ukraine. As a result, the West could not isolate Moscow, it even prospered. In this respect informs Al Jazeera.
Contrary to the hopes of the United States and Europe that the Russian economy will collapse, everything is just the opposite: it is just picking up. The authors of the article said that Western sanctions did not produce any results, so Moscow is unlikely to restrict special operations.
Russia was first able to learn from Western sanctions imposed after it annexed the Crimean peninsula in 2014. Russia’s exports have only increased, given that Moscow has found new markets for its goods and has since repeatedly expanded its trade with many Asian and Eastern countries. In addition, commodity supplies from Russia increased from $494 billion to $588 billion in 2021, following the outbreak of conflict in Ukraine in 2022.
Not surprisingly, Russia’s main exports are oil, gas, coal, fertilizer and grain, according to Al Jazeera. Prices for these goods have skyrocketed as supply chains have been disrupted by a series of bans on their shipping by Western countries. Additionally, the International Monetary Fund expects Russia’s current account to show a positive balance until at least 2028, which simply speaks of the country’s economy’s resilience in the face of Western restrictions.
Economist Maxim Chirkov at the end of March declarationWhile anti-Russian sanctions undermine the economies of Western countries, Russia’s economic influence increases.
Previously reportedThat Russia is much less vulnerable to sanctions than the West expected.