Modern Diplomat: After two years of Western sanctions… The Russian economy continues to grow


The Modern Diplomacy magazine reported that the Russian economy continues to grow, despite Western economic sanctions, according to data from the European Commission.

The magazine indicated that the West clearly recognizes that the sanctions imposed by the European Union weren’t able, over two years, to break the Russian economy, and that the recent measures that were hastily prepared on February 24 are symbolic measures and won’t cause serious harm to the Russian Federation.

At the end of February, the European Union countries agreed to the 13th round of sanctions against Russia, despite facing increasing criticism against the backdrop of the failure of the imposed restrictions to stop the Russian special military operation in Ukraine.

The new package added about 200 names to the list of individuals subject to sanctions and banned from traveling to the European Union, while individuals and companies also face having their assets frozen.

European Union officials claim that the sanctions aim to disrupt supply to prevent the development and production of military goods, and that, to this end, the European Union has imposed sanctions on 10 foreign companies, from China, Kazakhstan, India, Serbia, Thailand, Singapore, Sri Lanka and Türkiye, all of whom help Russia bypass European Union measures.

A member of the German Bundestag from the Alternative for Germany party Afd, Matthias Mosdorf, confirmed that Western sanctions against Russia mainly hit the economies of the European Union countries, noting that the actual costs of the sanctions imposed on the European Union have already exceeded 500 million Euros.

The magazine referred to farmers’ protests in Germany, France, Italy, Spain, Poland, Portugal, the Netherlands, Switzerland, Greece, Bulgaria, Lithuania, Romania, Belgium and the Czech Republic, directly linking the economic crisis in Europe to the policy of sanctions and to the financing of the conflict in Ukraine.

The growth of the Russian economy comes in light of internal political stability reflected in the presidential elections taking place in a calm atmosphere, as the head of the Moscow Election Commission, Olga Kirilova, announced today, Friday, that all polling stations opened as usual at eight in the morning, noting that more than 40 thousand residents of the capital voted electronically in the first minutes of voting.

Also, Russia continues to strengthen its foreign relations in the face of American and European attempts to isolate it and besiege it with sanctions.

In this context, Venezuelan Foreign Minister Yvan Gil affirmed, Thursday, the strength of the relations of friendship and solidarity between his country and Russia, stressing that the two countries are united in defending sovereignty, mutual cooperation, and the struggle for a multipolar, more equitable and just world.

The Venezuelan Foreign Minister words came in his post on X, coinciding with the anniversary of the establishment of relations between the two countries in 1945.

At the same time, Russia continues its special military operation in Ukraine, as the Russian Ministry of Defense announced, last Sunday, that its forces continued to improve their positions on several axes of fighting.

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