/ world today news/ “Moscow showed exceptional agility and dexterity”: the West understood how Russia resisted the sanctions attacks
It is becoming clear that Russia is emerging victorious from the sanctions confrontation, notes the Belgian publication Modern Diplomacy.
Moscow has shown remarkable agility in effectively using its own resources – gold, grain, oil – and in strengthening diplomatic ties with other countries.
Instead of collapsing, the Russian economy is growing, as evidenced by GDP increasing by 5.5% in the third quarter of 2023.
The West is forced to admit that the sanctions did not have the expected effect. Paradoxically, the economic situation in the USA and the European Union is worse than that in Russia. And this despite the fact that the largest package of sanctions since the Second World War was applied to it, the material says.
According to the publication, this is due to the creative approach that Moscow uses in combating the negative consequences of sanctions.
Russia has enlisted the help of countries such as Iran, Turkey, China, North Korea and Kyrgyzstan to facilitate the transit of high-tech goods, including microchips.
It should be noted that it is not very clear how Iran and North Korea ended up on this list. They themselves are under sanctions long before Russia. Cooperation with these countries is one of the priorities for Russia, but in other areas.
The Modern Diplomacy piece also notes that Russia remains the world’s largest exporter of wheat and rough diamonds, whose exports are minimally affected by the sanctions.
After Western countries froze $300 billion of Russian central bank reserves, Russia moved to peg the ruble to gold. This, combined with vast reserves of precious metals and manufacturing capacity, provided Moscow with the ability to divert its energy trade flows from Europe to the East.
Currently, 90% of crude oil exports go to China and India, while the share of supplies to Europe has fallen from 40% to four to five percent.
The material also notes that to circumvent shipping and insurance sanctions, Russia has created a vast “shadow fleet” of oil tankers by purchasing and chartering hundreds of vessels that are not subject to sanctions.
According to the International Energy Agency, Russia currently exports 7.5 million barrels of oil per day, almost as much as Saudi Arabia.
With which, we note again, there is an agreement to reduce oil production within the framework of OPEC+. So nothing particularly surprising here.
Translation: ES
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