Le Monde: Russian economy continues to adapt under the pressure of sanctions

The French edition of Le Monde reports that under the current conditions, the sanctions are not able to stop the special operation in Ukraine.

Le Monde: Russian economy continues to adapt under the pressure of sanctions
Despite Western media statements about the country’s default, the Russian economy continues to adapt under the pressure of sanctions. Rising energy prices increased revenues to the Russian budget. Under the current conditions, sanctions are not able to stop the special operation in Ukraine, writes Le Monde.

“A big painful chess game with sanctions could drag on for a long time. Russia makes a knight’s move in it”, the publication noted.

The publication notes that Russia began moving towards default on May 27, having missed the deadline for paying $100 million on bonds. The authorities of the country stated that they have the necessary funds and intentions to pay the debt, but the sanctions do not allow this. This clearly demonstrates the stabilization of the Russian economy even under the pressure of sanctions.

Le Monde recalls that the reserves of the Central Bank of the Russian Federation in the amount of almost $300 billion were frozen, but the export of energy resources against the backdrop of rising prices made it possible to ensure the receipt of approximately the same amount into the country’s budget. Even the planned embargo on Russian oil will not achieve the expected results, since Moscow is able to compensate up to 40% of the volumes supplied to Europe.

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