Summary
Many experts believe that Russia’s attack on Yuken was not just out of enthusiasm, but behind it many years of preparation. Russia has made its economy anti-sanctions in the last eight years.
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After all, what are the forces or methods, because of which Russia does not care about sanctions. Russia was also under sanctions at the time of the annexation of Crimea in 2014, when Russia’s economy was very weak. Russia’s economy today is much stronger than in 2014.
Many experts believe that Russia’s attack on Yuken was not just out of enthusiasm, but behind it many years of preparation. Russia has made its economy anti-sanctions in the last eight years. Know why Russia is not caring about sanctions.
international exchange reserves
Russia’s international currency reserves stood at $630 billion in January. More interestingly, only 16 per cent of this is kept in dollar form. Whereas, five years ago it was 40 per cent. Apart from this, about 13 percent of Russia has included China’s currency Reminbi in foreign exchange reserves.
China’s side
Western countries will oust Russia from SWIFT (Global Financial Transfer Service of Western Central Banks). However, China is helpful in dealing with it. China launched the Cross Border Interbank Payment System (CIPS) in 2015. Russian companies and the government are unlikely to find transactions difficult.
economic fortifications
Russia has made sweeping changes to the economy, building fortifications against sanctions. In particular, it has reduced its dependence on foreign loans and investments. Has looked for business opportunities different from the western markets, despite not increasing the budget and growing the economy at the rate of just one percent, has strengthened it. Europe has also invested 311.4 billion euros (in 2019) in the country. Obviously, if Russia sinks, this investment will also sink.
European dependence on Russian energy
Easier for some countries to impose sanctions on Russia’s oil and gas industry. For example, Britain is only three per cent dependent on Russia for its oil and gas. But, on the other hand, the European Union gets 40 percent of its natural gas supply from Russia. In such a situation, it is difficult to stay united on the banning of Europe. Countries dependent on Russia for gas supplies will be reluctant to take such steps.
No personal harm to Putin
Financial and travel restrictions have been imposed on people close to Putin. But since Putin or his close relatives don’t have any assets abroad, that won’t make any difference to the Russian President. At the same time, only symbolic action could be taken against billionaires close to Putin. Couldn’t hurt big.
Expansion
After all, what are the forces or methods, because of which Russia does not care about sanctions. Russia was also under sanctions at the time of the annexation of Crimea in 2014, when Russia’s economy was very weak. Russia’s economy today is much stronger than in 2014.
Many experts believe that Russia’s attack on Yuken was not just out of enthusiasm, but behind it many years of preparation. Russia has made its economy anti-sanctions in the last eight years. Know why Russia is not caring about sanctions.
international exchange reserves
Russia’s international currency reserves stood at $630 billion in January. More interestingly, only 16 per cent of this is kept in dollar form. Whereas, five years ago it was 40 per cent. Apart from this, about 13 percent of Russia has included China’s currency Reminbi in foreign exchange reserves.
China’s side
Western countries will oust Russia from SWIFT (Global Financial Transfer Service of Western Central Banks). However, China is helpful in dealing with it. China launched the Cross Border Interbank Payment System (CIPS) in 2015. Russian companies and the government are unlikely to find transactions difficult.
economic fortifications
Russia has made sweeping changes to the economy, building fortifications against sanctions. In particular, it has reduced its dependence on foreign loans and investments. Has looked for business opportunities different from the western markets, despite not increasing the budget and growing the economy at the rate of just one percent, has strengthened it. Europe has also invested 311.4 billion euros (in 2019) in the country. Obviously, if Russia sinks, this investment will also sink.
European dependence on Russian energy
Easier for some countries to impose sanctions on Russia’s oil and gas industry. For example, Britain is only three per cent dependent on Russia for its oil and gas. But, on the other hand, the European Union gets 40 percent of its natural gas supply from Russia. In such a situation, it is difficult to stay united on the banning of Europe. Countries dependent on Russia for gas supplies will be reluctant to take such steps.
No personal harm to Putin
Financial and travel restrictions have been imposed on people close to Putin. But since Putin or his close relatives don’t have any assets abroad, that won’t make any difference to the Russian President. At the same time, only symbolic action could be taken against billionaires close to Putin. Couldn’t hurt big.