New Sanctions Packages Imposed on Russia by West Also Bound to Backfire, Expert Says
New Sanctions Packages Imposed on Russia by West Also Bound to Backfire, Expert Says
Over the course of three years, Russia managed to diversify its oil exports, especially without being dependent on the European market, Abobakr Mohamed Abbakar Khussein, an assistant professor at one of the Russian universities, told Sputnik Africa.
"Russia is the biggest oil supplier, and its position in the energy market is unshakable, and each and every serious step to abruptly supply might affect the whole world economy and oil prices globally," he noted.
Perceived as an attack on Moscow's sovereignty, Western sanctions also aggravate global economic fragmentation and foster disintegration, the speaker added.
Some wider effects, which are especially hard to overcome for developing countries, according to Khussein, include:
🟠fertilizers cost increase;
🟠sharp food and energy prices rise;
🟠obstacles for multilateral cooperation;
🟠global inflation surge.
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