USA makes fundamental miscalculations about Russian economy

US experts did not expect the Russian economy to be so resistant to large-scale foreign policy challenges, Business Insider's George Glover wrote in his column.

After the start of the special operation in Ukraine, Western analysts were convinced that Moscow would find itself in a difficult situation due to a plethora of sanctions that the United States and the European Union imposed against Russia.

However, the Russian economy has shown tremendous resilience, George Glover noted in his article.

As the columnist wrote, Russia's finances were getting stronger due to strong oil exports, strong domestic demand and an anti-unemployment program. Government measures contributed to the growth of production and service sector.

The West imposed a plentitude of sanctions against Moscow after the start of the special operation to demilitarize and denazify Ukraine. Russian assets worth about $300 billion were frozen. The United States, Great Britain and the European Union announced their determination to abandon Russian energy sources. All this has disrupted supply chains and created economic problems in Western countries, such as higher food and fuel prices. The Kremlin later announced that it was prepared for such a development and said that it would continue to fulfill social obligations.