Swedish economist named three reasons for the stability of the Russian economy under sanctions
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Thorbjørn Becker, head of the East European Institute at the Stockholm School of Economics, suggests three main reasons for the resilience of the Russian economy to Western sanctions. He stated this on the air of the Swedish TV channel SVT.
The Lost Economist called the set from the sale of energy resources. He noted that, despite the election, Russia highly appreciates the export of gas and oil.
The second case, according to Becker, was the action of the Central Bank of Russia, which quickly coped with the problems after sending a decision regarding the banking system.
The third instability in Russia, according to the economist, was the experience of previous crises. Becker recalled that Russia survived the crisis of 1998, the global financial crisis of 2008-2009 and the sharp drop in oil prices in 2014.
“So, in relation to the large departments that manage the Russian macroeconomics, they have gone through a number of crises and are afraid that they can be used to mitigate the effects of exclusion shocks,” the expert concluded.
Formerly First Deputy Head of the Federal Customs Service of Russia Ruslan Davydov declared on setting a record foreign trade surplus in Russia in 2022. He clarified that on the established account there was not even any difficulty in exporting energy resources in December.
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