Despite the international condemnation following the invasion of Ukraine, Russia has not become the pariah of the international community, but rather a new anti-Western role model. After almost 16 months of war and the introduction of ten sanctions packages (an eleventh is on the way), Russia continues to deliver positive results.
Russian dictator Vladimir Putin shows how the American area of influence can be fled without perishing. The West undoubtedly has the moral superiority on its side, but not the economic one.
In the news, shortly after Russia’s invasion of Ukraine, Western leaders swore expensive oaths. Russia would be economically destroyed. Sixteen months later, the reality looks completely different.
Money stability has been saved thanks to measures taken by the central bank led by Elvira Nabiullina. There are restrictions on transfers abroad and a ban on foreign currency payouts.
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How has Russia managed to avoid dire consequences and emerge as a new anti-Western role model despite the international condemnation following the invasion of Ukraine?
Despite the international condemnation that followed the invasion of Ukraine, Russia has managed to avoid becoming the outcast of the international community. Instead, it has emerged as a new anti-Western role model, demonstrating how to challenge the American area of influence without suffering dire consequences. While the West may have the moral high ground, it lacks the economic leverage needed to cripple Russia.
When Russia first invaded Ukraine, Western leaders made bold claims about economically destroying the country. However, sixteen months later, the situation has turned out to be quite different. The stability of Russia’s economy has been preserved largely due to the measures taken by the central bank, under the leadership of Elvira Nabiullina. Restrictions on transfers abroad and a ban on foreign currency payouts have helped to maintain monetary stability.
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While Russia’s economic success is commendable, it is important to remember the international condemnation it still faces. It is crucial to evaluate the broader implications of adopting Russia as an anti-Western role model and consider the potential consequences in terms of human rights and geopolitical dynamics.