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The Economist: The Russian economy has proven surprisingly resilient

2022-05-06T13:46:44.256Z


London, SANA- The British Economist magazine said: The Russian economy has withstood the pressures of Western sanctions


London-Sana

The British Economist said the Russian economy has withstood the pressures of unprecedented Western sanctions and has proven surprisingly resilient.

The magazine considered that the closed nature of the Russian economic system played an important role in containing the effects of the sanctions, describing the Russian energy sector as an important factor in facing the sanctions.

The magazine stressed that maintaining the stability of the ruble exchange rate and carrying out all payments under international bonds denominated in foreign currencies indicates the readiness of the economic system of Russia to Western sanctions, noting that this economy has proven surprisingly resilient despite the high prices, the withdrawal of some Western companies from the market and the high cost of transporting goods .

The magazine indicated that Russia's revenue from the sale of energy resources increased by more than 80 percent in the first quarter of this year compared to the corresponding period of last year, and that since the start of the special operation in Ukraine, Russia has exported at least 65 billion dollars in fossil fuels by sea and pipelines. According to the Finnish Analytical Center for Research on Energy and Clean Air.

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Source: sena

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