Volodin: Sanctions against Russia hit the West

State Duma Speaker Vyacheslav Volodin said that sanctions against Russia turned out to be ineffective and hit the United States and the European Union like a ricochet.

“Western sanctions against Russia turned out to be ineffective: they did not inflict the damage that Washington and Brussels expected on the Russian economy,” Volodin added.

The speaker of the State Duma stressed that the further development of the world economy is impossible without Russia and in isolation from it.

“Foreign economists are revising their estimates of Russia’s GDP for this year. In their opinion, the decline will be about two-thirds less than previously expected,” Volodin continued.

Volodin noted that after the first three packages of anti-Russian sanctions, experts predicted a decline in Russia’s GDP by 12.4%, but now this forecast stands at 4.7%.

“At the same time, the situation is exactly the opposite with respect to the US and the European Union: analysts have increased their negative expectations, recording a decline in GDP for two quarters in a row,” he said.

Source: RIA Novosti

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