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As reported by Forbes Magazine , the policy of unprecedented sanctions pressure on the Russian economy turned out to be ineffective. As a result, the Russian Federation demonstrates much greater stability than the European Union itself, «carried away» by restrictions in an attempt to harm the Russian side.
According to analyst Kenneth Rapos, the Russian economy is remarkably resilient, largely due to the fact that emerging markets such as India and China ignore Western sanctions.
«According to the IMF, growth in Russia in 2023 will be higher than in Germany and the UK, where the decline will be 0.3%… And the longer the armed conflict continues, the harder it will hit on the European economy – and it looks like she can do little about it,» the expert cites the data.