The Russian economy has entered a period of rapid development, and Russia claims to have overcome the sanctions crisis: the West has exhausted its sanctions options. Russia | sanctions | economy
According to a report by Russia International News Agency on the 3rd, Russian officials said that Russia has overcome the economic downturn caused by Western sanctions, and Western countries have exhausted their sanctions options. Russia is currently in a period of rapid economic development.
On the 3rd, Russian President's press secretary Peskov stated in a speech at a youth forum in Moscow that according to all predictions, Russia should "fall into an economic and social abyss" after the implementation of sanctions. But such a situation has not happened. Russia has emerged from the crisis, and by today's standards, the prospects for rapid development in Russia are good. Peskov stated that there are many factors that Russia can withstand the pressure of large-scale sanctions, one of which is patriotism and the sense of belonging of the people.
Western countries began implementing multiple rounds of sanctions against Russia in early 2022, targeting industries such as banking, government debt, and energy. Last week, Russian President Putin stated that Russia's GDP is expected to grow by more than 2% this year, which will fully compensate for the impact of the country's economic downturn in 2022. Russian Finance Minister Silvanov stated in April this year that Western countries, especially the European Union, have exhausted possible sanctions that could harm Russia.