Despite strict sanctions, Russian banks have posted record profits, with Euroclear reporting nearly $5 billion in profits from frozen Russian assets in 2023. The International Monetary Fund estimates Russia's GDP will grow by 2.6%, and the Financial Times notes the unintended consequences of ill-advised Western sanctions, leading to the flourishing Russian economy, particularly in the banking sector.
sanctions don't work in a multi-polar world esp when the exports are oil, gas, and food The surprising resilience of the Russian economy https://t.co/y28MT6s1tx
The Financial Times is astonished to witness the flourishing Russian economy despite imposed sanctions. Their recent article, titled "The surprising resilience of the Russian economy," reflects this disbelief. https://t.co/XJOJTxDpzw
#RussiaWatch🇷🇺: According to the @FT, thanks to the unintended consequences of ill-advised Western sanctions, Russian banks generated RECORD PROFITS in 2023. https://t.co/cJEeoQgiFN
Russia’s frozen assets are generating billions Euroclear, a prominent EU clearinghouse, reported nearly $5 billion in profits from frozen Russian assets in 2023 The company's net interest earnings totaled $5.9 billion, with $4.4 billion linked to Russian sanctions. Euroclear… https://t.co/v7GC4iY4KK
The Russian economy continues to grow contrary to forecasts Despite the strict sanctions regime, negative forecasts regarding the Russian economy still do not come true, writes Le Figaro. Recent estimates from the International Monetary Fund show that its GDP will grow by 2.6%… https://t.co/YzqlER3fVo
Sanctions? What sanctions? | Russian banks post record profits https://t.co/zaSNnmypjE