The Kremlin has announced that Russia’s economy has not only weathered the storm of Western sanctions but has, in fact, thrived under the pressure.
The audacious statement comes amid ongoing international efforts to penalise Russia for its actions, particularly the full-scale invasion of Ukraine on February 25, 2022.
In the wake of Russia’s military aggression, the European Union was quick to respond with a series of comprehensive sanctions designed to send a stark message to Moscow about the consequences of its actions.
Since that fateful day, the EU has implemented no less than 11 sanctions packages aimed at choking off Russia’s access to global markets and technology.
But now, deluded Vladimir Putin appears to believe that the nations, which is still at war in Ukraine, can handle more sanctions after its invasion.
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Despite the European Union’s commitment to these punitive measures, Kremlin spokesperson Dmitry Peskov, speaking to reporters on Tuesday, seemed remarkably confident in Russia’s ability to endure and even prosper in the face of these sanctions.
He said: “Russia has been living under a sanctions regime for quite a long time, for decades, and we have sufficiently adapted to it, so such time horizons as five to 10 years do not scare us.
He appeared to downplay the potential impact of further sanctions.
What adds to the incredulity of this statement is Russia’s assertion that the sanctions have not hindered but, rather, boosted its domestic economy and industrial production.
This claim, in the face of a common global belief that sanctions are meant to curb economic activity, raises significant questions.
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Contradicting Moscow’s narrative, observers have argued that the sanctions imposed by Western nations have not succeeded in deterring Russia in its ongoing military operations against Ukraine.
A report by the Norway-based risk consultancy Corisk sheds light on the issue, as it analysed customs data from 12 EU countries, Norway, the United Kingdom, the United States, and Japan.
The report alleges that the circumvention of export sanctions on Russia amounted to approximately 8 billion euros in 2022, suggesting that these measures may not have been as effective as intended.
Russia insists that Western powers are using Ukraine to undermine its national security and weaken its position on the world stage.
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