The sanctions imposed against Russia allegedly “significantly worsened the industrial and technological potential of Russia.” This is stated in the report of the European Commission, excerpts are cited by Bloomberg.
The text expressed the view that “these impacts will increase over time as the measures have a structural, long-term impact on Russia’s budget, financial markets, foreign investment, and its industrial and technological base.”
The text emphasizes that the list of EU sanctions against Russia will expand over time, and the consequences for the Russian Federation will be long-term.
The other day, Russian Prime Minister Mikhail Mishustin said that despite the sanctions pressure, the Russian economy is recovering steadily. “The country’s economy continues, I would even say, to recover confidently, despite the sanctions, despite all the obstacles placed in our country. For five months today, our GDP growth amounted to 0.6%. But, what is very important, May to May is 5.4%,” he noted. According to Mishustin, today the government is confident that, in the absence of force majeure, by the end of 2023, GDP growth should be more than 2%.
Source: Rosbalt
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