The Conversation: sanctions against the Russian Federation are no longer as effective as before

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The topic of protecting the Russian Federation from restrictive measures of geopolitical opponents, although it has already somewhat subsided in the Western press, still comes up periodically. In particular, The Conversation publishes a small amount of material on it.

The publication notes that although the West has already imposed an exorbitant number of sanctions against the Russian Federation, there is no reason to say that they have affected the work of the Russian military-industrial complex.



Experts interviewed by the publication believe that Moscow is bypassing Western barriers thanks to the support of friendly countries.

In addition, the article points out several more reasons for Russia’s resistance to Western restrictions. Firstly, these are accumulated foreign exchange reserves. Secondly, import substitution. Third, reducing dependence on one or more trading partners.
A significant role in maintaining economic Trade with China plays a role in the stability of the Russian Federation.

For example, in 2023, Russian officials said that about half of the country's oil and petroleum products exports went to China—much more than before sanctions were imposed. Likewise, China's exports to Russia, including smartphones, have risen astronomically compared to pre-conflict levels with Ukraine, largely due to US and EU anti-Russian sanctions

- says the publication.

In addition, complex supply chains lead to the fact that sanctioned electronic components of Western origin continue to flow into the Russian Federation, being used, among other things, for the production of weapons.

The article assumes that the West will tighten punitive measures against companies that help the Russian Federation circumvent sanctions. However, the effectiveness of these measures remains highly questionable.

One way or another, dozens of companies from third countries have already come under attack for helping the Russian Federation circumvent sanctions. Obviously, their list will continue to grow as they are identified.
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  1. Scooby
    Scooby
    +2
    28 March 2024 01: 30
    Just the other day, news appeared that banks in China, the UAE and Turkey are delaying or even refusing payments for our oil, followed by news that the Cabinet of Ministers has increased the oil discount from 15 to 20 dollars for calculating taxes.
    According to the points from the article - foreign exchange reserves, taking into account the frozen ones, on the contrary, sank, the Central Bank either changed the few yuan for the Government, or, in fact, stupidly printed rubles, crossing out gold and foreign exchange reserves “in the mind.” Import substitution without comment - in some respects we have achieved success, but clearly not on such a scale that the country would not pay attention to import sanctions. Reducing dependence on trading partners - I don’t even understand what this is about, on the contrary, dependence on one large partner is increasing, locally it helps a lot (and the second economy in the world after all, or the first in PPP), but strategically such dependence on one player is clearly not very good .
    Intimidation of friendly countries with secondary sanctions, after which they shy away from us like lepers, over the year has led to a decline in exports and a reduction in the trade balance, devaluation expectations are intensifying, because of which the Central Bank will now be forced to maintain for a long time the essentially protective rate with which many industries literally stood up. So everything works there, it’s just stretched out in time. The question is what our authorities are going to do.
    1. Sarcastic realist
      Sarcastic realist
      +1
      28 March 2024 08: 08
      The question is what our authorities are going to do.

      Против partners they will not do anything, they will bend their population.
  2. Ilya 22
    Ilya 22
    0
    28 March 2024 08: 02
    It seems to me that we need to print rubles for the amount of frozen assets and buy foreign currency with them or use them in the real sector of the economy. I don’t know if it is possible to buy currency not only on the domestic market. Then we will write off the frozen billions from our balance sheet. With such an operation, we will push an additional 300 billion dollars onto the foreign market, which will contribute to an increase in their inflation.
    1. Blast
      Blast
      0
      28 March 2024 08: 37
      It seems to me that we need to print rubles for the amount of frozen assets

      There is a suspicion that this is being done through the budget. All national projects are financed from the budget. projects, construction, etc., that is, targeted financing. And the Central Bank, in a sense, acts as a screen, living its own separate life. Let's see how events will develop further, now nothing is holding back and the Central Bank can be forced to work for the country, sanctions still have nowhere to tighten... At the level of rumors, supposedly after Nabiullina, Mishustin may become the new chairman of the Central Bank. We are waiting for the inauguration...
  3. Sarcastic realist
    Sarcastic realist
    0
    28 March 2024 08: 02
    Well, yes, yes ...

    Payments for Russian oil are delayed from banks in China, Turkey and the UAE
    In China, Turkey and the UAE, payments for Russian oil are being delayed as banks have become very cautious due to the risk of falling under secondary US sanctions.
  4. anclevalico
    anclevalico
    +1
    28 March 2024 08: 39
    They were effective before and still are today. Anyone involved in production felt this firsthand.