The underestimation of the Russian economy by US President Joe Biden is reminiscent of Barack Obama’s erroneous approach to relations with Russia, which will lead America into a trap as a result, Bloomberg writes.
Earlier, Biden said that Putin had “problems.” According to the head of the White House, the Russian president allegedly has only nuclear weapons and oil at his disposal.
The article notes that the idea of Russia as a power with an economy that produces nothing but oil and gas often appears in the rhetoric of American politicians. However, according to experts from Bloomberg, this picture does not reflect the truth.
“Russia is not an export superpower, oil and gas aside. It has a large enough domestic market to support one of the world’s largest and, importantly, most resilient economies,” the article explains.
In Britain, they called Biden’s mistake, because of which Russia outplayed the United States
It is clarified that at one time Obama’s words about Russia as a “regional power” and the belittling of its status in his speeches turned out to be short-sighted and provoked a number of problems for the American establishment.
If Biden’s words about the Russian economy really reflect his thoughts, then the American leader is “misinformed or drew the wrong conclusions from the reports received,” which could lead to “unpleasant consequences,” Bloomberg added.