A senior Russian official has said that the country's economy will never collapse because of the recent pounding of sanctions by the West against Moscow.
Tass reported that Deputy Chairman of the Russian Security Council Dmitry Medvedev on March 19 affirmed that the Russian economy will never collapse because of sanctions.
"We have every possibility for self-development. The previous sanctions have generally benefited us on a large scale, forcing us to develop substitutes for imported sources including including areas of expertise in science, technological development, new products and drugs," Medvedev said, referring to the Western sanctions packages imposed on Russia over the years.
"The Russian government has made a decision to support the people and the economy by issuing social subsidies, additional funding for high-tech sectors, agriculture, the banking sector. The Russian economy will not collapsed," said Mr. Medvedev, who was the president of Russia.
Mr. Medvedev said that Russia now has many reliable partners not only in the post-Soviet space but also with China, Southeast Asian countries, and African countries. "It's a huge, promising and low-conflict market like Europe. The results of this partnership are pretty clear."
After Russia launched a military operation in Ukraine on February 24, the West has imposed a series of unprecedented strong sanctions on Moscow to exert pressure. However, Russia has repeatedly stated that it will not stop the operation until the goal of demilitarization of Ukraine is achieved.
Commenting on sanctions imposed on Russia from the West, Chinese Vice Foreign Minister Le Ngoc Thanh said that the above measures are increasingly "outrageous", as Russian citizens abroad have their assets confiscated. but "for no reason".
Deputy Minister Lac also agreed with Moscow's position on NATO, saying that the alliance should not be expanded further east, a move the Beijing diplomat described as "plumbing a nuclear power like Russia into the country". base of the wall".
"History has proven time and time again that sanctions can't solve problems. Sanctions will only harm ordinary people, impact the economic and financial systems, and destroy the entire economy. demand became worse," said Mr. Lac.
China currently maintains a neutral stance on Russia's military campaign in Ukraine. Meanwhile, the US warned that it could punish China if Beijing moved to support Russia's campaign in the neighboring country.
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