Kremlin: Western sanctions fail to destabilize Russia’s economy

(MENAFN) Kremlin spokesman Dmitry Peskov stated at a press briefing on Wednesday that the unprecedented Western sanctions on Russia have not succeeded in destabilizing the economy.

As stated by Peskov, Russia’s “macrostability is ensured and the economy has entered a growth trajectory – this is a fact that cannot be ignored.”

Peskov's remarks were prompted by a question regarding a recent article from a newspaper, which named the head of the Bank of Russia, Elvira Nabiullina, as the 'disrupter of the year'. As reported by the newspaper, “Nabiullina’s hawkish monetary policies have repeatedly saved the ruble and kept the country’s economy afloat,” in spite of Western attempts to weaken the Russian economy with sanctions because of Russia’s war against Ukraine.

The Kremlin spokesman conveyed that Western politicians are recognizing the inefficacy of the sanctions, acknowledging that they have backfired on the countries that enforced them. He further commented that while the West can endure without Russia, its success might be compromised compared to what it could achieve if economic ties with Moscow had not been severed.

“Hypothetically speaking, Europe can do without Russia, but then Europe loses its competitiveness, because then it has to buy the same goods, be it energy or something else, from other countries, but at exorbitant prices. And this pushes the entire European industry, its specific manufacturers and so on, into a pre-bankruptcy state,” Peskov declared.


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