Tuesday, 02 January 2024 12:17 GMT

Russia Strengthens Economic Ties Amid Western Sanctions


(MENAFN) Russian Foreign Ministry spokeswoman Maria Zakharova stated on Monday that Moscow is "successfully adapting" to Western sanctions by creating new economic strategies and enhancing collaboration with non-Western allies.

In an interview with a news agency, Zakharova noted that Russia’s foreign policy and economic efforts are now directed at establishing “reliable conditions” for partnerships with nations of the “global majority.”

“The geopolitical context is changing dynamically, but Russia has learned to develop antidotes to this poison,” she remarked. She emphasized that extensive sanctions designed to isolate Russia financially and technologically have not met their intended objectives.

Zakharova highlighted that the government is focusing on alternative financial mechanisms, trading in national currencies, and strengthening cooperation with BRICS countries and other international partners.

Rejecting Western assertions of economic downturn, she asserted that the European Union is grappling with its own difficulties related to sanctions.

She described BRICS as a “non-confrontational platform” that fosters equality and mutual advantage, emphasizing that no member nation plans to exit the bloc despite criticisms from the West.

Following new US sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, along with their subsidiaries, the market value of these firms dropped by $5.2 billion.

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