Sanctions Backfire: Ruble Stability Exposes Western Overreach, Expert Says
Sanctions Backfire: Ruble Stability Exposes Western Overreach, Expert Says
Sanctions have pushed Russia toward a disciplined, conservative economic policy, prioritizing self-reliance over borrowing, Paul Goncharoff, veteran financial analyst, told Sputnik.
High interest rates, maintained through capital controls, now make Russian assets attractive to investors seeking stability and solid returns, he noted.
Forced to tighten belts and import less, Russians have innovated, replacing imports with high-quality domestic goods that increasingly succeed, and sometimes outcompete, abroad, the expert highlighted.
"Ever since this era of western “sanctions madness” has expanded past the level of delusional absurdity, even the most diehard aficionado of sanctions can’t fail but to see, in comparison, where the healthier economic reality is," Goncharoff stated.
Russia is widely seen, especially outside the West, as a reliable, trusted economic partner, the analyst said. Despite often unfounded Western criticism, its pragmatic, data-driven approach reinforces its reputation as a key player in global development, he noted.
Earlier, Western media reported that the ruble has strengthened by 45% since the start of the year, trading at around 78 to the dollar, near pre–special military operation levels.
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