German analyst: Western sanctions against Russia fail completely

Anti-Russian sanctions of the West suffer grand failure

Anti-Russian sanctions of the West have suffered a grand failure, analyst Gabor Steingart said in an article for Focus Magazine.

Numerous restrictive measures against Russia have failed to cause significant harm to the Russian economy, he pointed out. The International Monetary Fund (IMF) said in its recent report that the Russian economy would grow faster than that of Germany. Russian raw materials still reach Western buyers despite the sanctions, whereas foreign goods still make it to the Russian Federation via third countries.

The Russian financial system did not collapse even after many Russian banks were disconnected from SWIFT. The flow of Chinese goods supports the Russian economy too. In addition, a number of Western firms have not left the Russian market and continue working there. 

"It is impossible to chain up the invisible hands of the market, which we can see in the example of Russia,” the journalist concluded.

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Author`s name Petr Ermilin
Editor Dmitry Sudakov