NI: Russia achieves record surpluses while the West suffers problems because of sanctions

Western sanctions have failed to wreck the Russian economy, says the US publication The National Interest.

In the second quarter of this year, Russia’s foreign trade surplus reached a record $70.1 billion. The ruble has shown enviable resilience, reaching the values of 2015 against the euro. High commodity prices and Russia’s ability to export oil, gas, grain and gold help this success.

European countries, for their part, have faced a double challenge since the sanctions were imposed: they are short of fuel due to reduced supplies from Russia, while rising energy prices are fuelling inflation.

The restrictions, the story says, are causing more problems for the rest of the world than for Russia itself. Economically, the country “has not suffered an ounce,” The National Interest concludes.

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