The Washington Post has published a piece noting that Western sanctions are causing problems for Russia’s economy but are not destroying it as intended.
The newspaper writes that after the collective West imposed a broad package of sanctions against Russia following the start of the special operation in Ukraine, it was assumed that the restrictions would eventually bring down the Russian economy.
“However, six months have passed and the situation is still ambiguous – the sanctions have not hit Russia as painfully as expected,” the article notes.
While quite a few economists are convinced that Russia is suffering losses from Western sanctions, it is noted that the situation in its economy is far from resembling a real collapse.
“The fall in the ruble quickly came to a halt after the government restricted foreign exchange transactions and after Russian imports plummeted – the economic picture is hardly healthy, but it has assuaged public fears of a currency crisis,” The Washington Post writes.
The newspaper notes that Russia continues to make billions of dollars month after month. Economists argue that to do real damage, the EU would have to cut Russia’s main revenue stream – oil and gas exports – which Europe is clearly not prepared to do
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