Kremlin adviser discusses Russia's economic shift amid Western sanctions

(MENAFN) Western sanctions have compelled Russia to reshape its Economy and pivot towards rapidly emerging markets in Asia, stated Kremlin adviser Maksim Oreshkin during the Moscow Financial Forum on Thursday. Oreshkin highlighted that this transition toward the "vibrant segment of the global economy" has contributed to a more robust and enduring recovery in Russia. He also noted that the country can now achieve its goals across various sectors, including defense, security, technology advancement, and education.

“In fact, what we’ve done over the past year and a half is a very big structural reform. A structural reform that switched the Russian economy, its focus, from the sick part of the global economy towards the healthy one,” Oreshkin said.

Oreshkin acknowledged that the ongoing transformations have been at times challenging and even "painful" for Russia, as the nation has had to address various simultaneous challenges. These challenges encompassed the reconfiguration of logistics systems and the establishment of novel payment mechanisms.

However, Oreshkin contended that, without the imposition of sanctions and the consequential alterations they prompted, Russia would presently be preoccupied with the crises afflicting Western nations, instead of focusing on the opportunities arising from collaboration with rapidly expanding economies like India and China.

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