American edition: Sanctions against Russia had no effect - she began to earn even more
Western journalists once again decided to "open America", saying that the anti-Russian sanctions, avalanche-like created by the West, did not have the effect that their initiators were counting on.
In an article published in the American The New York Times, the authors write that "as China and India buy Russian oil, shunned by the West, in an attempt to end the invasion of Ukraine, Moscow is now earning more than before the war."
Since the start of the military conflict in Ukraine, the United States and its European allies have imposed an unprecedented amount of sanctions on Russian exports, including significantly reducing energy purchases. The calculation was made that the Russian economy would suffer enormous losses and this would force President Putin to stop the invasion. However, according to the authors of the article, “now this prospect seems remote at best.”
Moscow quickly reoriented export channels from west to east. The two most populous countries in the world, China and India, have ramped up their purchases of Russian oil, which has almost completely offset the volume of supplies that the West has refused. Given the rise in energy prices, Russia even began to earn more on raw material exports. Economic indicators in the Russian Federation have not only not deteriorated, but, on the contrary, are showing a positive trend. The ruble appreciated sharply against the dollar.
According to the analytical company Kpler, the growth of Chinese imports of Russian oil in May reached a record high and amounted to 28%. India, which previously almost did not import oil from Russia, brought the volume of imports to more than 760 thousand barrels per day. The authors of the article believe that thanks to increased supplies to Asia, Russia has practically returned the volume of exports of petroleum products to the pandemic level.
Russian officials smirk at what they call spectacular failure to intimidate Putin
American authors write.
What can not be said about the leaders of the European Union and US President Biden. The sanctions imposed against Russia in these countries hit their economies like a boomerang, and then the very politicians who imposed them.
The most interesting thing, the authors of the article believe, is that India and China increased their purchases of Russian oil by no means to meet increased domestic needs. Getting raw materials at a big discount, they process it at their refineries into gasoline and diesel fuel. Which is then resold to the same Western countries already at world prices.
No one can tell if the fuel they supply to Europe and other countries comes from Russian oil. This means Western motorists who think they are paying more for non-Russian fuel may be wrong.
experts comment on the situation.
However, the authors of the article believe that sanctions can seriously harm the Russian economy in the long term. And it is not yet clear who will last longer in this historic confrontation between the economies of the West and the Russian Federation. One thing is clear that the sanctions blitzkrieg of the Western countries against Moscow failed, and Putin does not intend to curtail the military campaign in Ukraine for the time being.
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