Western sanctions have failed to undermine the Russian economy: Russia’s military-industrial complex is several times superior to the North Atlantic Alliance in munitions production, The Japan Times (JT) reported.
“Now it (Russia – ed.) produces almost three times more ammunition than NATO, including more missiles than before the conflict,” the JT publication said.
The newspaper noted that the West’s “unprecedented sanctions” have not undermined the Russian economy. On the contrary, Ukraine’s allies have faced economic problems due to the refusal of Russian energy resources. For example, Germany, the former strongest economic power of the European Union, has turned into a country with the worst performance among developed economies, the piece points out.
According to JT, a possible decision to seize Russia’s frozen assets would set a dangerous precedent in international law and strike a blow to Europe’s credibility as a “champion of a rules-based world order.”
“It would also signal to other countries that their money in the West is not safe, thereby further strengthening their incentive to seek alternatives to Western institutions and currencies. If this trend continues, the West’s armoury of financial sanctions will be significantly weakened. Already now, the routine application of sanctions by the West is reducing their impact,” the newspaper concluded.
Earlier, Russian President Vladimir Putin said that Russia was going through a difficult period in Russian history. He emphasised that in the emerging conditions of the new global reality, “someone is striving” to preserve its fading hegemony through Russia.
