Russian economy copes quite well with the sanctions

Following Russia's invasion of Ukraine, Western countries imposed sanctions on the Kremlin on February 24. Among them, the most severe were the ban on trade with Russian partners, the freezing of Russian reserves and assets abroad, the exclusion of some Russian banks from the SWIFT transfer system, and the exodus of many well-known brands and companies from Russia. In response, the Russian authorities introduced their counter-sanctions package and threatened to seize the assets of Western companies left there. According to the economist, this will not happen.

"Western sanctions against Russia have a limited effect because Russia, preparing to aggress against Ukraine, tried to become immune to possible restrictions. Unlike Europe, which still depends on Russian gas," Dr. Artur Bartoszewicz, an economist at the Warsaw School of Economics, believes.

In his opinion, Europe's resignation from purchasing raw materials from Russia would paralyze the country's budget, but Vladimir Putin is convinced that he will find other buyers for them.

"Acquisition of assets is an attempt to intimidate companies that withdraw from the market. If Russia does accomplish these actions, it will be very difficult for it to rebuild normal relations after the end of the war," the economist argues.

(Newseria)