Volodin: The US and the EU lost the trade war against Russia

The US and EU imposed sanctions on Russia to weaken the country, but ended up losing the trade war. This was stated by State Duma Speaker Vyacheslav Volodin.

“The plans of Washington and Brussels were to weaken and then divide our country, as American and European politicians have publicly stated more than once. It didn’t work out. They lost the extensive trade war against Russia,” wrote he is on his Telegram channel.

As confirmation, Volodin recalled words Russian President Vladimir Putin at WEF that Russia has “already earned twice as much” in funds as Washington and Brussels have frozen in the form of Russian gold and foreign exchange reserves. In addition, the Russian Federation is actively trading with Asia-Pacific countries, the unemployment rate in the country has dropped to a record 3%, and Russia has also entered the top five largest economies in the world in terms of purchasing power parity, Volodin noted.

After the start of Russia’s special operation in Ukraine, Western countries introduced large-scale sanctions against the Russian Federation and froze Russian assets abroad. Finance Minister Anton Siluanov reported in March 2022 that the Russian Federation had lost access to half of the gold and foreign exchange reserves of the Bank of Russia – about $300 billion.

Putin has previously repeatedly stated that the sanctions have not achieved their goals and are an incentive for the development of a sovereign economy. During SPIEF He emphasizedthat restrictions will not hinder the development of Russia. According to him, those countries that impose them suffer the most from sanctions.