Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,596 members, 7,809,165 topics. Date: Friday, 26 April 2024 at 02:15 AM

How Did Russia Avoid Economic Ruin Despite Sanctions? - Foreign Affairs - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / How Did Russia Avoid Economic Ruin Despite Sanctions? (385 Views)

Gaza In Ruin, Flattened (Photos) / How Did Israeli Intelligence Fail To Stop Major Attack From Gaza? / Why Did Russia Invaded Czechoslovakia In 1968? (2) (3) (4)

(1) (Reply) (Go Down)

How Did Russia Avoid Economic Ruin Despite Sanctions? by naija4life247: 8:14am On Jul 12, 2022
In my opinion, Putin took notes from Iran and began preparing for massive sanctions well before the start of the war.

Putin didn’t make Russia overly reliant on trade with the West. Russia had been expanding its economic & diplomatic relations with India, China, Qatar, UAE, Saudi Arabia, Turkey, Ethiopia, Algeria & Egypt in particular for years. Thus, “isolating Russia” would be impossible.

EU states are still buying Russian gas as most EU states have admitted that completely abandoning Russian gas or oil is completely impossible in a short span of a few months. Hungary in particular has been completely resistant to banning both. And in fact, most EU states are now believed to be buying Russian gas in rubles.

Russia is importing less, thereby helping its own elite take over businesses that Western corporations left behind, which does wonders for the job market and economic opportunities

Russia never stored all of its wealth and assets overseas. While it did lose access to billions that the West froze, Russia was also smart and kept billions at home. Russia is thus able to repay its debts. The only way it wouldn’t be able to is if the West intentionally freezes Russian payments. Which would be illegal and a hugely dangerous escalation.

The main point of Russia’s current success against Western sanctions is to never make your economy or trade overly reliant on the West. Other rising states such as India, China, Indonesia, Pakistan, & Ethiopia should heed the warning.

SOURCE: https://www.quora.com/

1 Like

Re: How Did Russia Avoid Economic Ruin Despite Sanctions? by LoneWolf212: 8:26am On Jul 12, 2022
Mother Russia prepared herself for the worse before invading Ukraine. Reason why they keep maneuvering through every sanction the west throws at it.

2 Likes

Re: How Did Russia Avoid Economic Ruin Despite Sanctions? by jom28gy(m): 8:31am On Jul 12, 2022
They are strategic in planning, and a viable industrialised nation, though, yesterday,I watched in ajazira, where China is ready to support EU against Russia,

1 Like

(1) (Reply)

Jews Behind Russia-ukraine War To Form New Jewish State - Islamic Scholar / Western Companies Still In Russia / Russia Missiles Strike Kyiv Again

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 10
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.