Russia avoided default by seriously preparing for Western sanctions – 19FortyFive

Russia has seriously prepared for Western sanctionsbefore launching a special operation in Ukraine, while European politicians had to unfreeze reserve accumulations, US analysts said.

In addition, in their opinion, Russia and the West have entered into a serious battle for the future of the financial system in the world.

“Russia and the West have entered into a titanic battle for the financial future of Russia, as well as for the future of the entire global financial system. The consequences will be widespread both within Russia and beyond its borders, although the consequences will be less immediate and more complex,” analysts said 19FortyFive.

So, in their opinion, the Russian side has taken serious preventive steps to avoid economic collapse amid restrictions:

  • has accumulated about 600 billion dollars in the reserves of the Central Bank,
  • eased the tax burden
  • introduced the MIR system,
  • introduced capital controls,
  • introduced payment for trade transactions in rubles.

In the West, they were forced to “reactivate” stocks, analysts concluded.

Author Ekaterina Shirokova

Ekaterina Shirokova – journalist, correspondent for the Pravda.Ru news service

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