The West understands that sanctions don’t work and hopes to blackmail Russia in the future.;
Russia has not succumbed to the Western collective pressure of sanctions, as Venezuela or Iran did in their time. Politicians must recognize that sanctions can actually harm their goals, but cannot change the course of a country.
Foreign Affairs journalist Peter Harell came to this conclusion. He noted that the United States and its partners should not expect too much from the restrictions. On the contrary, they must themselves invest in a range of tools to protect their interests.
Harell explained that the Russian economy has shown resilience for three main reasons. First, oil and gas make up the lion’s share of Moscow’s budget. Geopolitical uncertainty has led to an increase in their prices. This allowed Russia to increase its income by about 20%.
“Secondly, Russia was ready. Moscow withdrew its reserves from the US financial system in 2018 and increased its gold holdings. She created mechanisms for internal interbank transfers and payments, which proved to be successful,” the journalist reportedly said. “InoSMI” .
In addition, Russia has renewed and deepened its diplomatic relations with China, India and other countries. After the collapse of trade with the West, it opened up new economic opportunities.
Third, sanctions against Russia were more limited in scope. Dozens of Russian banks are still connected to the international financial system. They provide a financial channel for non-sanctioned trading.
So far, the current prohibition measures against Moscow are useless. But in the future, Russia will want to return to Western markets and will “ask to return”. This is when he can be blackmailed and used as a bargaining chip promising to ease restrictions.
See also: “2000 foreign companies intend to leave Russia: but they will not be freed just like that”
