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News > Russia

British Newspaper Admits Russia Is Winning Economic Warfare

  • Vladimir Putin:

    Vladimir Putin: "The rise in oil and gas prices is not due to Russia, but to the policies of the West. The West is waging an economic war on our country, and we will take measures against it". | Photo: Twitter @_AfricanSoil

Published 3 June 2022

A British newspaper analysis admits that the economic war launched by the West against Russia is not going as planned and urges Europeans to sit down at the dialogue table with Moscow.

Despite the fact that more than three months have passed since the West declared an economic war against Russia in retaliation for its military operation in Ukraine, things are not going according to plan, British newspaper The Guardian reported Thursday.


IEA: World Facing the Worst Global Energy Crisis Since 1970

"The perverse effects of the sanctions have led to a rise in the cost of Russian oil and gas exports, boosting its trade balance enormously and financing its war effort," the text reads.

The article confirms that, in the first four months of 2022, Russian President Vladimir Putin could boast a current account surplus of $96 billion, more than three times the figure for the same period last year.

The publication also pointed out that the partial ban on Russian oil exports caused the price of crude oil to rise on world markets, providing the Kremlin with another financial windfall. 
In this regard, the article added that Moscow will have no difficulty in finding new markets for its energy, as last April, its oil and gas exports to China increased by 50% compared to 2021.

As a result of the energy sanctions against Russia, The Guardian has pointed out, most Western countries have registered slow economic growth and high inflation, as well as an increase in unemployment, since the economy of these countries depends on gas imported from Russia.

According to the newspaper, modern U.S. military technology, energy restrictions and the seizure of Russian assets have failed to force President Putin to withdraw his troops from Ukraine.

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