MOSCOW, July 27 – RIA Novosti. Russia, despite Western sanctions, is not in danger of an economic collapse, writes Turkish edition of Daily Sabah, citing the opinion of Kerim Can Kavakli, associate professor at Bocconi University in Italy.
“Russia continues to make profits from international trade, as do big economies such as China, India and Saudi Arabiahe did not join the West’s efforts to impose sanctions. Russia is able to find new buyers for its oil and gas, and the increase in oil prices has helped it even more – the expert believes.
The publication also noted that Russia has a huge current account surplus due to import bans, which accelerated the de-polarization of its economy and led to a strengthening of the ruble.