Russia managed to avoid the “economic collapse” predicted by French Economy Minister Bruno Le Maire immediately after the imposition of Western sanctions against Moscow, so how did Russia manage to do it?
The newspaper Le Monde published a report in which it examined the factors of the Russian economy’s resilience and its resilience in the face of harsh Western sanctions.
The newspaper reported that Russia’s Central Bank followed a strategy that stabilized the ruble’s exchange rate, in addition to Russia’s holding large reserves of foreign exchange and gold.
Russia is also working to organize local production for industries ranging from food to the textile sector. The newspaper also pointed to the fact that Russia has increased imports from former Soviet republics, indicating success in circumventing sanctions.
Another factor that supported the Russian economy in the face of sanctions is the availability in China of many spare parts needed for Russian industry.
It did not affect the Russian economy either, stopping most of the supply of natural gas from Russia to Europe.
Russia has repeatedly confirmed that it will cope with the pressure of sanctions that the West began imposing a few years ago, and after the failure of containment of Russia, Moscow has said that the West lacks the courage to admit that sanctions against it have failed miserably.
Experts believe that the Western sanctions against Russia have spurred inflation in the Western countries, since the measures of the West contributed to the rise in commodity prices, especially energy prices.
Source: RT + Le Monde