The Financial Times writes that the Russian economy, despite the sanctions, held out better than many expected.
The newspaper notes that prompt measures taken by the Central Bank of Russia to introduce capital controls and raise interest rates have stabilized the ruble.
She stressed that the increase in oil sales to China, India and Turkey “helped counteract the decline in exports to the European Union.”
In the future, the paper argued, Russia’s “biggest blow” could be the loss of Western technology and components that Beijing or other countries could not “completely replace.”
Source: RIA Novosti