Forbes names opponents of anti-Russian sanctions among Western countries

Most of the world’s states did not join the anti-Russian sanctions of Western countries for the sake of cooperation with Russia. This opinion was expressed by oil and gas economist Tilak Doshi in an article for Forbespublished March 23rd.

According to him, under the conditions of anti-Russian sanctions, the world has divided into two blocks – those who support sanctions and those who are against them, while the latter include most countries of the world, with the exception of a number of Western countries and their allies.

“For actively developing countries such as Brazil, India, China or South Africa, it is equally important to protect themselves with Westernization, which threatens Western dominance in international financial institutions, and to maintain productive relations with such profitable partners as Russia,” Doshi emphasized.

In the article, the economist also made a number of predictions about how the current situation in the energy market will affect the world. The author is convinced that Europe has forever lost cheap Russian gas, in connection with which the European Union (EU) will be doomed to deindustrialization and a significant drop in the standard of living of its citizens. At the same time, according to the expert, it will be beneficial for developing countries to seek cooperation with the Russian Federation and China.

Doshi also recalled that Russia and China are working together to create an international reserve currency.

Earlier that day, the Russian Foreign Ministry indicated that Russia had withstood the sanctions and gained economic sovereignty. Nikolai Kobrinets, Director of the department of pan-European cooperation of the department, said that Russia has sharply accelerated cooperation with friendly countries, and also began to build production and logistics chains, while the EU unleashed an economic war against Russia in order to bring the Russian economy to collapse and abandon interests in the field of security.

Prior to this, on March 17, Bloomberg stated that anti-Russian sanctions have strengthened the role of the yuan in the global economy. According to columnist Alexander Gabuev, for the first time in the history of the Moscow Exchange, the yuan overtook the US dollar last month and became the most traded currency. Gabuev also noted that the economic costs of the restrictions imposed against the Russian Federation could be much higher than expected in the United States.

Western countries have stepped up sanctions pressure on the Russian Federation against the backdrop of a special operation to protect the population of Donbass. The decision to start it was made by Russian President Vladimir Putin on February 24, 2022 against the background of the aggravation of the situation in the region due to Ukrainian shelling.