Sanctions against Russia have not worked as expected in the West, but the restrictions may affect the Russian economy in the long term. About this on Sunday, November 6, informs RBC with reference to experts.
According to economists at the European analytical center Bruegel and the Institute of International Finance (USA), the defensive strategy of the Russian Federation, called “Fortress Russia” by Western countries, turned out to be much more effective than US and European sanctions.
“Thanks to the competent reaction of the Bank of Russia, sanctions in the financial sector failed to provoke a crisis in Russia, and the reduction in economic activity turned out to be less than expected,” the experts added.
However, analysts are confident that many of the restrictions have a delayed effect. In particular, the West is pinning great hopes on energy sanctions that will help the EU gain independence from Russian resources.