RBC reported that although the sanctions did not have the desired effect on Western nations, experts have cautioned that they could eventually hurt the Russian economy.
Economic experts from the American International Finance Institute (IIF) and the European Research Center BRUEGEL stated that the Russian protection strategy known as the West “Russia Fort” has proven to be more effective than the system of restrictions imposed by the states United and European Union in an article titled “How Sanctions on Russia influenced.”
“Sanctions in the financial sector failed to cause a financial crisis in Russia thanks to the prudent measures of the Russian Central Bank, and it was found that the decline in economic activity was less than expected.”
However, the report anticipates that many Western sanctions will take time to take hold. For instance, despite the challenges of the upcoming winter, they give up on their hopes that energy limitations will aid the European Union in achieving resource independence from Russia.
From Novosti.
Experts: Because of the Bank of Russia’s foresight, the sanctions did not affect the Russian banking sector.
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