After 2 years war in Ukraine and the pile of Sanctions imposed… What can be told regarding the Russian economy?

Have Moscow’s economic troubles really ended after nearly two years of war in Ukraine?
Well, this is an interesting question.
In the context of Russian President Vladimir Putin’s preparations to run in the 2024 elections, the Kremlin announces that the difficult economic conditions have been overcome.
Although two years have passed since the start of the war in Ukraine, the Russian economy shows resistance to Western sanctions, but economic experts point to signs of fatigue, the effects of which may be tangible in the future.
In this context, a French diplomatic source expects the impact of economic sanctions to appear later in 2024 or in early 2025.
Economist and Author, Agathe Demarais stresses that the aim of the sanctions isn’t to bring down the entire Russian economy, but rather to reduce the capabilities of the Russian army.
For its part, the European Union has imposed 11 packages of sanctions on Russia since the start of the war in Ukraine, focusing on oil and gas exports.
The twelfth package is being prepared, which includes a ban on the import of Russian diamonds.
Despite the sanctions, Russia’s economy remains partly strong, but observers note that there are fatigue factors, especially in light of a 70% increase in military spending in 2024, which indicates Moscow’s readiness for a long war.
In light of these challenges, some European companies are showing a willingness to continue doing business with Russia, especially regarding dual-use goods.
Despite the incoherence of European policies, it remains difficult to estimate Moscow’s long-term resilience, given the economic and social challenges the country faces under the current circumstances.
On this context, the President of Russia, Vladimir Putin, expressed his admiration for the economic isolation that his country witnessing, stressing that this development strengthens national strength and is considered positive for the state.
During his participation in a business conference in Moscow on December 7, Putin confirmed that Russia’s economy is expected to grow by 3.5% this year, after declining by about 2.1% in 2022.
The Russian President added that Russia’s gross domestic product has now risen to levels Higher than before the period of Western sanctions.
In this context, he stressed that Russia is striving to achieve a prominent position as a growth center, despite the challenges it faces due to the war with Ukraine.
The Russian president pointed out that the world is witnessing fundamental transformations and serious challenges, which aren’t limited to individual companies or sectors, but rather extend to entire countries and regions around the world.
He stressed that Russia’s budget deficit is shrinking while the West’s economy is deteriorating.