The relative isolation of the Russian economy

At the same time, sales to European countries decreas slightly: from February to August they fell by 30%. In fact, the EU countries continu to buy Russian oil, despite statements about the impending rejection of energy from Russia. “In reality, the restrictions were negotiat slowly and came into force gradually over the course of 2022,” Ankindinova explain. On the world market, the discount on Russian oil, made it possible to increase the nominal volumes of exports and oil and gas revenues to the feral budget.” In the meantime, pessimistic forecasts suggest the rapid imposition of sanctions in the form of a complete embargo on Russian energy resources.

The level of which even taking into account

Some Western analysts warn about the stability of the Cayman Islands Phone Number List Russian economy in early February 2022. Bloomberg Economics analyst Scott Johnson wrote that high oil and gas prices would help Russia offset losses from sanctions on trade, investment and banking operations. The record reserves accumulat by the Russian Central Bank, as well as a budget surplus and a modest public debt of 18%, one of the lowest rates among major economies, also testifi in favor of the strength of the economy, Bloomberg drew attention . In the summer of 2022, The Economist publish a study that reveal another reason for the stability of the Russian economy: its low dependence on foreign players.

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This was accompani by an increase in prices

Even before the imposition of the 2022 sanctions, only 0.3% of Russians work for American-born companies, compar to 2% in develop countries. And the volume USA CFO of foreign investment in Russia in the last pre-COVID year – in 2019 – amount to 30% of GDP. The global average at that time was 49%, The Economist points out. Thus continu to accumulate until 2022. Sanctions reinforc this isolation, continuing the trend and not having a decisive impact on the economy. At the same time, Bloomberg analysts expect the ruble to weaken by 20%. And if in March the Russian.

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