Deputy Chairman of the Security Council Medvedev: sanctions against Russia are returning to the West like a boomerang Not all countries are successfully coping with the economic downturn resulting from sanctions against Russia, Medvedev believes. Russia, according to him, is struggling with real difficulties, but the West cannot globally limit it
Sanctions against Russia are returning to Western countries like a boomerang, without achieving results, Deputy Chairman of the Security Council Dmitry Medvedev wrote in his Telegram channel.
sanctions against Russia, as expected, it turned out that they are returning to the West as a boomerang, — he noted. According to Medvedev, global inflation is increasing, and a recession may be beginning in Europe.
“It becomes clear that not all states will successfully cope with such a recession, despite the hysterical statements of the national leaders of Western countries,” wrote Medvedev. At the same time, he pointed out, the blocking of Russian banks “did not bring a significant result”: the Russians retained access to the Russian payment system and use it.
However, the ban on the export of Russian energy resources hit ordinary Western citizens who own cars and living in houses with gas heating, the former prime minister believes.
“Of course, there are real difficulties that Russia has to contend with. Where they are still trying to isolate us from the global value chains, the international division of labor, increasing unemployment and plunging into economic chaos. Nevertheless, it is not possible to globally limit Russia,», — explained Medvedev.
According to the deputy chairman of the Security Council, the world is moving towards a new logic of economic relations and an updated financial system. “It is impossible to trust those who freeze the accounts of other states, steal other people's business assets and personal property, compromising the principles of absolute protection of the sacred right of private property,” he said.
Medvedev noted that confidence in currencies is “melting” and the abandonment of the dollar and the euro as the world's main reserves no longer seems fantastic. According to him, the era of regional currencies is coming, and countries will have to agree on a new financial order.
At the end of February, the European Union and the United States decided to block the assets of the Bank of Russia, freezing its transactions. The goal was to prevent the regulator from “using its own international reserves to dampen the impact of Western sanctions.” The head of the Ministry of Finance, Anton Siluanov, noted that Russia, due to restrictions, had lost access to almost half of its gold and foreign exchange reserves— $300 billion
In response to the freezing of reserves in dollars and euros, Russia limited the movement of funds that could be transferred to unfriendly countries by a comparable amount. Foreign investors were banned from selling securities and withdrawing funds from the Russian financial system.
The United States threatened Russia with sanctions back in December. The head of the Russian Foreign Ministry, Sergei Lavrov, then said that if “hellish sanctions” follow, Moscow will react. “This is a dead end path, and in the end it will turn against the very initiators of these illegitimate unilateral measures,” — said the minister.
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