Bloomberg described how the Russian Federation avoided falling from sanctions

Russia has been able to avoid the devastating impact of Western sanctions imposed after the start of the invasion of Ukraine, thanks to rising prices of exported oil and gas, Bloomberg wrote.

It also helped the Russian Federation stabilize the ruble exchange rate, the newspaper notes.

According to them, a more effective way of helping Ukraine in the war with the Russian Federation than sanctions is the provision of weapons and other assistance.

Citing Kremlin officials, Bloomberg wrote that Russian President Vladimir Putin is not worried about economic costs because he is implementing what he sees as an existential struggle for Russia’s geopolitical survival in the United States. States and its allies.

“In order for him to think about the economy, you have to impose an embargo on oil and gas,” said Sergey Guriev, a Russian economist from Paris.

The publication states that the EU has had difficulty with the introduction of the embargo. therefore, oil restrictions are now actively discussed.

Economists say a deeper economic crisis requiring more spending on unemployment and other benefits could deplete the Kremlin’s resources, but not in the short term.

“We have seen examples from other countries, such as Iran and Venezuela, where even the prolonged application of very strict sanctions has not changed significantly in the decision -making process. This is well understood in the West , ”said Oksana Antonenko, director of Control Risks in London.

According to media reports, an agreement between EU countries on a phased embargo on Russia’s oil could be reached at the summit on May 30-31.