Russia was ready for the pressure from the West, but one should keep in mind that the sanctions will continue to intensify, Igor Semyenovsky, senior lecturer at the Law Department of the Financial University under the Government of the Russian Federation, said in a comment for Rossa Primavera News Agency.
“As for the banks, Russia has indeed created certain reserves. The Central Bank created stabilizing cushions to support banks in case of need,” the political scientist explained, adding that the sanctions against individuals were not as strong.
“So at the first stage, Russia turned out to be ready for sanctions. We see that the system is working properly,” Semyenovsky said.
According to him, although some people rushed in a panic to withdraw cash or buy buckwheat, it does not lead to a collapse and the system functions properly enough.
“The question is how long it will take to work in such a rather tense regime. Because we have to keep in mind that the sanctions will continue to intensify,” warns the political scientist.
In his opinion, further sanctions against Russia will probably be related to export control, restrictions on technology and so on. In addition, Russia will respond symmetrically to Western pressure.
Western countries condemned Russia’s special military operation to demilitarize and denazify Ukraine. After that, various sanctions, both personal and sectoral, were imposed against Russia, including against Russia’s state debt and banking sector. The West continues to threaten new restrictive measures.
Source: Rossa Primavera News Agency