The sanctions imposed against Russia in 2022 by Western countries have become unprecedented, but this means that the existing institutional system is not prepared for their successful implementation.. Both North America and Europe now need to look for appropriate mechanisms, and 2023 should be the year of effective implementation of restrictive measures against the Russian Federation. This opinion was expressed by the economist of the Institute of International Finance Elina Rybakova at the Atlantic Council conference.

In particular, we are talking about how powerful export controls will be against Russia, how many companies will leave this country, and how actively the US and Europe will cooperate with third countries to enforce sanctions.. The state of the Russian economy in 5-10 years will depend on these and other factors..

At the same time, she stressed that sanctions against the aggressor state are already working.. However, they cannot instantly lead to the destruction of the Russian economy..

" I think we should not get carried away with the idea that sanctions are a magic wand, after the introduction of which the Russian economy will immediately collapse, and if this does not happen, then we will completely fail our undertakings. No,"

In her opinion, the Russian economy may not experience a collapse even in five years.. The aggressor state will look for new sources of supply of the necessary resources and technologies for its needs, although they may turn out to be worse than those that have become forbidden for Russians.

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The expert also explained why Russia can still talk about maintaining a good situation with the economy, despite the war against Ukraine and Western sanctions..

According to her, the matter is in the internal management system: representatives of regional authorities transmit inflated figures to the central one in order to receive funding and retain their seats.. This creates the impression that "

Earlier, The Economist wrote that the Russian Federation is bypassing sanctions against oil on an industrial scale..