Economist explained why Russia is not afraid of “a cart and a small cart” of sanctions

From the statement of the White House it follows that the next sanctions have been imposed on more than 200 individuals and legal entities, not only from Russia, but also from third countries: Europe, Asia and the Middle East. The US is also raising duties on more than 100 types of Russian metals, minerals and chemical products.

“In coordination with G7 partners and allies, the Treasury and State Departments will implement broad sanctions against key income-generating sectors,” the statement said.

According to the document, the US sanctions will target Russia’s future energy capabilities, but will not harm the current functioning of the market.

The 10th package of anti-Russian sanctions cannot yet be finally and irrevocably agreed in the European Union. Formally, because of the position of Warsaw, which believes that one of the points regarding the export of Russian synthetic rubber to Europe is poorly spelled out. It should be banned altogether, and the package even increased the volume of such supplies.

In general, diplomats are discussing. According to world agencies, the 10th package refused to impose restrictions on the Russian nuclear and diamond industries.

One of the main problems for the European Union is the creation of a mechanism that will make it possible to direct the frozen foreign currency assets of Russia to the restoration of Ukraine. Such a legal mechanism already exists (and has been launched) in Canada and the United States. The European Union is still trying to find Russian foreign exchange reserves worth $300 billion. In which countries are they located?

However, the situation is complicated by the fact that in order to disclose such confidential information, some states need to amend their constitutions.

Not away from the “crusade” against Russia and other countries. According to recent reports, New Zealand has added 87 personalities from Russia’s political and military elite to its “black list”. Great Britain went even further.

In particular, London imposes a ban on the export to Russia of everything that can be used for warfare. These are spare parts for aircraft, radio equipment, electronic components, which are used, among other things, in the production of drones.

The restrictions will also affect Russian companies that manufacture and repair military equipment and some research institutes. And 80 individuals, headed by Deputy Prime Minister Alexander Novak.

Meanwhile, the world community continues to be perplexed. Russia is surrounded by “nuclear” sanctions on all sides, but there is no such effect that the economy would collapse, as expected in the West.

For example, the French magazine Chalange writes that Russia has shown surprising resilience in resisting the sanctions. “All analysts predicted a decline of at least 8%, while the decline in GDP left 2.2%.” In addition, according to the forecasts of the International Monetary Fund, Russia’s GDP will increase by 0.3% this year, and by 2.3% in 2024.

The publication believes that “Russia is taking a hit, but Ukraine is not.” Since Ukrainian GDP shrank by almost 35% last year. The magazine considers the production of military equipment and the success of agriculture to be the points of economic growth. A separate line describes the merits of the Central Bank, its competent actions that “helped save the ruble.”

In turn, US Treasury Secretary Janet Yellen previously assessed the state of the Russian economy as follows: “After US sanctions, it is holding up better than it could have been expected initially.”

And how do Russian economists assess the situation? After all, they know better than analysts from the banks of the Seine or the Potomac.

– Will the tenth package of EU sanctions and other restrictions that are being introduced today hit our economy hard? – I ask the candidate of economic sciences, financial analyst Mikhail Belyaev.

“I will say this: if they are already taking the 10th package of anti-Russian measures, this means that no sanctions are in effect on Russia,” he replies. – If they had an influence, they would have given a result after the first two packages.

– What has changed since the first sanctions?

– In the West, they realized that the mechanism does not work due to some mistakes that need to be corrected. Here, they are “correcting” for the 10th time, and the Russian economy is standing as if nothing had happened.

The mechanism does not work in principle, no matter how many individual parts or assemblies in it are changed.

– And for what reason?

– The States and the European Union were sure that we are a raw material power, that we live only by exporting energy resources to European countries. And if they refuse such supplies, then Russia will collapse.

But it turned out that this is not entirely true. Yes, we are dominated by the raw material sector. However, these are modern high-tech companies that involve in their activities both artificial intelligence and the most modern achievements. Thanks to this, they are stable in the world market. If energy resources are not needed in the West, we have redirected them to the East. This is a highly demanded product.

Our energy companies, like pillars, have sent development impulses to other sectors of the economy, since they are closely connected with them.

So, this explains the stability of the Russian economy to any sanctions and restrictions.

Dance some actions in the foreign trade sphere. In the West, they are surprised that we can circumvent sanctions. But this is the market. If one side is interested in selling a product, and the other is no less interested in buying it, then they will definitely find a way to do it – and within the law.