An electronic sign with a dollar sign on a street in Moscow. File photoMOSCOW, April 12U.S. sanctions have failed to harm the ruble, which has stabilized, due to the impossibility of deglobalizing the world economy, American journalist Bradley Blankenship said in a column for the Global Times. «Speaking March 26 in Warsaw, American President Joe Biden said sanctions, «the ruble has turned into rubbish.» This statement was a clear exaggeration, and reality has refuted it: since the start of the Russian special military operation in Ukraine, the ruble has almost completely regained its lost ground,» the expert noted. He pointed out that the West, having entered the economic struggle with Moscow, overestimated his capabilities. Thus, Russian energy resources turned out to be indispensable for the world economy, and their sales market is not limited only to US allies, Blankenship emphasized. The expert pointed out that anti-Russian measures were introduced mainly only by the countries of North America and Europe, while other states did not how the disruption of economic ties and supplies created by the globalization of the economy would hurt them. Thus, the markets of other regions are still open for Moscow, which are unwilling and unable to sever mutually beneficial economic ties with Russia.The economist told whether America can save the dollar's reputation «This is how globalization works. And yes, it really works. <…> Of course, stories about the financial magic of the Russian Central Bank are circulating somewhere, but an important reason for the stabilization of the ruble was that deglobalization turned out to be impossible. This is an integral and constant feature of the world economy,» Blankenship concluded. On February 24, Russia launched a military operation in Ukraine. In response, Western countries imposed large-scale sanctions against Moscow, which primarily affected the banking sector and the supply of high-tech products. Individual brands announced the cessation of work in the country. The Kremlin called these measures an economic war, the likes of which have never been seen before. The authorities stressed their readiness for such a development of events and assured that they would continue to fulfill social obligations. The Bank of Russia is taking measures to stabilize the situation on the foreign exchange market. The authorities also announced the transfer of payments for gas supplies to unfriendly countries into rubles. In addition, the government has prepared a plan to counter restrictive measures, which includes about a hundred initiatives. The volume of its funding will be about a trillion rubles.
