News from Al-Madinah: The New York Post verified that the sanctions placed on Russia by the United States and the European Union had the opposite effect, strengthening the Rupee while weakening the West.
Something needs to change in this area, according to Philip Bilkington’s article in the New York Post. “The limits are bad to the United States and the European Union and aid Russia and its allies,” he wrote.
Since oil and gas are Russia’s principal exports, he continued, the sanctions failed because of the huge increase in energy prices, and as a result, Russia has made more money this year than it did last.
He emphasised that despite US Vice President Joe Biden’s pledge to destroy the Russian ruble, Moscow was able to negotiate oil and gas sales to China and India, increasing the value of the ruble by about 23% against the dollar. This proved that Western predictions that Russia would stop supplying energy to the West were incorrect.
“The current approach to the sanctions against Russia is a failure,” he declared. “The Russian currency is stronger than it was prior to the conflict, and the Russian military budget grows thanks to the high energy prices, and the American consumers suffer and Europeans are in the middle of a miserable winter. Let’s use every trick in the book to lower energy costs.
The sanctions on Moscow have caused an extraordinary rise in energy and inflation prices for Western nations, and the European industry has significantly lost its competitive advantages, which has had an impact on other areas of the economy.
It is interesting that while the West attempts to attack Russia’s energy sector in the belief that doing so will destroy the Russian economy, the country’s income from oil and gas do not reach 25% of total revenues.
Due to the exodus of rival international businesses and industries as a result of the sanctions, several Russian enterprises have prospered, demonstrating the Russian economy’s flexibility.
From Novosti.
New York Post: Russia was unaffected by the sanctions.
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