Russia’s revenues increase thanks to sanctions imposed on it
No matter how difficult it may be for the collective West to admit, the fact is that the sanctions against Russia are boosting that country’s revenues.
During his meeting with Federal Taxation Service director Daniel Yegorov, President Vladimir Putin highlighted that the revenues of the Russian Federation increased by 32% during the first half of 2022, mainly due to the rise in energy prices.
The sharp slump in the Russian economy at the beginning of the Western “sanctions” has therefore been largely absorbed and the West’s self-isolation from the rest of the world has only favored the Russian economy.
It remains to be seen, however, what repercussions will result from the flow back of dollars normally sponged up by the international energy market.
So far, it has pushed inflation rates up to between 6 and 17% everywhere in the world, including Russia.
- Source : Voltaire Network
