Sanctions are Slowing Down the implementation of the UN Sustainable Development Goals

10 june 2019 | TVC

"Russia's got the resources and the intellectual capabilities to adapt to sanctions," said Leonid Grigoriev, chief adviser to the Head of the Analytical Center in an interview for TVC.

Leonid Grigoryev
Leonid Grigoryev
Chief Adviser to Head of the Analytical Center

That was the expert's comment on the statement that Igor Sechin made at the Saint Petersburg International Economic Forum about how the US is seeking to reformat the global economic and political space and to destroy the market relations and agreements that have been in place for decades in order to remove competition rules.

Mr. Grigoriev is of the opinion that sanctions are not a new phenomenon in the global economy but in today's situation they are exacerbating the situation because there is a lot more push-back against this tool of economic pressure from Russia, China and a lot of other countries that want to retain economic independence.

"We're not the only country under sanctions in the world and the visit by the head of the People's Republic of China is a major event for the Saint Petersburg Forum," Mr. Grigoriev added.

He also believes that cooperation between the two states does not necessarily require any binding agreements.

"Russia has a rather unique global trade specialization: we export oil, money and brains. So we've got some rather unique ways to adapt in this world. China's manufacturing lots of goods that we have no intention of manufacturing. To a large extent our economies can supplement each other and the agreements that have been signed now point to that," Mr. Grigoriev explained. "In addition, China's having to deal primarily with trade sanctions while the sanctions imposed on us are political, so I would say that no binding agreements are necessarily required for our countries to cooperate in a broad range of areas.

On the whole the expert noted that the sanctions were holding back the resolution of global issues. "The sanctions have begun turning into a kind of a monolithic phenomenon that has acquired a life of its own, nothing's happening anymore but more and more sanctions keep being thrown on the pile. This is naturally impeding the resolution of global issues and the implementation of the UN sustainable development goals and in the long term this situation can create a large number of problems," Mr. Grigoriev said.

Source: TVC