Dmitry Medvedev has flown away again: “Russia’s bankruptcy will drag Europe with it.” The analyst reassures

President Ursula von der Leyen said on April 17 in an interview with the German newspaper “” that Western economies are having a devastating effect on Russia, and that GDP is forecast to decline by 11% in 2022.

– Russia’s bankruptcy is only a matter of time. Thanks to this war, Putin is also destroying his own country and the future of his population, she said.

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Medvedev: The European Union wants Russia to go bankrupt, not to end the war in Ukraine

Former president and prime minister of Russia, Dmitry Medvedev, commented on the words of the head of the European Commission. “Russia’s insolvency can mean Europe’s insolvency, both moral and, quite possibly, tangible, because the European Union’s financial system is not very stable and people are losing confidence,” Medvedev wrote on his Telegram, quoted by the news agency.

Medvedev accused the European Union of not wanting the end of the war in Ukraine, but of Russia’s bankruptcy. “This is what they dreamed of! This is the main strategy of the European Union,” he added.

According to the Russian Ministry of Finance, Russia’s foreign debt as of February 1, 2022 amounted to USD 59.5 billion, including USD 38.97 billion in foreign bond loans, the TASS agency reports.

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Expert: Russia’s bankruptcy does not threaten the European Union

The possible bankruptcy of Russia will not cause hyperinflation in the European Union, said Marcin Klucznik, an analyst of the macroeconomics team of the Polish Economic Institute, in an interview with. He pointed to the latest forecasts of the International Monetary Fund (IMF), which show that inflation in the euro area will amount to 5.3%. in the current year and 2.3 percent. in 2023. Similar trends are suggested by the predictions of the European Central Bank and other international organizations.

Marcin Klucznik explained that the European financial system is stable and that European banks have little ties to the Russian financial sector. – Therefore, even a full financial crisis in Russia does not pose a risk of a recession in the European Union – he added.

The risk of Russia going bankrupt in 2022 is 90%.

As a result of the Russian invasion of Ukraine, the West imposed economic sanctions on Russia. The foreign agency wrote on April 9 that the first external insolvency of Russia in over 100 years seems to be unavoidable, and the risk of the country’s bankruptcy increased to 90% this year.

Western sanctions frozen 280 of the $ 640 billion in Russian reserves. Harvard Law School constitutionalists argue in an article in the New York Times that at least some of the Russian reserves held in the US and in US financial instruments could be seized. It is estimated at around $ 100 billion. According to the authors of the article, this would not be a precedent because in the past, on a smaller scale, the US carried out similar activities.