Belousov: the West was shocked that Russia remained under sanctions

The West was shocked that Russia remained under sanctions. This was stated by First Deputy Prime Minister Andrei Belousov, speaking at the educational marathon “Knowledge” as part of the exhibition-forum “Russia” with a report on the country’s sovereign economy.

“It was a shock in the West that Russia remained under sanctions. <...> We were predicted to have a catastrophe commensurate with the 1990s,” Belousov said.

He compared the decline of economies to the period of COVID-19. According to him, the Russian economy fell by 2.7%, the USA – 2.8%, Germany – almost 4%, Italy – a drop of 9%. Russia survived the pandemic much better than other countries, the Deputy Prime Minister stated.

Belousov noted that Russia has entered the stage of economic sovereignty. “Stage [с 2022 г.] can be called strengthening of sovereignty [России] and the creation of all elements to ensure it,” he said.

Sovereignty is not self-isolation, the Deputy Prime Minister clarified. According to him, sovereignty is the ability to implement one’s own national agenda, one’s own development goals in a changing world.

“Not all countries have such an opportunity,” he noted.

In June, Russian President Vladimir Putin greeted participants of the St. Petersburg International Economic Forum (SPIEF) statedthat Russia needs to focus on achieving technological and financial sovereignty, taking advantage of new opportunities.

Then he noted that close interaction between the state and the business community is necessary to modernize enterprises, train personnel and stimulate the labor market.