Russian ruble. Archival photoMOSCOW, 20 Jul. The Russian economy turned out to be much stronger than the West imagined, states the Italian edition Il Fatto Quotidiano. Russia's strength is that its industry, raw materials sector and agriculture make up a significant part of GDP, while the service sector (which includes trade, the banking sector, transport, tourism, public services, which, in general, less reflects the strength of the economy and develops mainly domestically, plays a smaller role compared to other countries, the material says.At the macroeconomic level, the country also has excellent performance. 2021 with a trade surplus, made possible by the export of raw materials, including oil and gas, while Moscow has accumulated huge foreign exchange reserves of $630 billion (1.7 times the level of imports of goods and services). is a creditor in the international market: this means that other countries need it more than it needs other countries. In the context of the conflict, the country's trade balance is still active, and the rapid rise in prices for black gold and gas guarantees significant tax revenues. Thus, summarizes Il Fatto Quotidiano, it was naive for the EU to count on the isolation of Russia without serious consequences for themselves.< img src="/wp-content/uploads/2022/07/3eaaa81b788313c24a963c7a0094b2cf.jpg" />The United States said that Putin had found a secret weapon against the WestAfter the start of a special military operation to denazify and demilitarize Ukraine, the West increased sanctions pressure on Russia. The disruption of supply chains has driven up fuel and food prices in Europe and the US. The rising cost of living has hit millions of households. Russian President Vladimir Putin said that the policy of containment and weakening of Russia is a long-term strategy of the West, and the sanctions dealt a serious blow to the entire global economy. very painful, while Europe must understand that they themselves exhaust their own economy with anti-Russian restrictions. According to him, Moscow has not yet applied countermeasures in full force. Russia has been conducting a military operation in Ukraine since February 24. President Vladimir Putin called its goal «the protection of people who have been subjected to genocide by the Kyiv regime for eight years.» The Russian Ministry of Defense called the liberation of Donbass the main task.Read the full text of the article on the InoSMI website >>
