The Chief Adviser to the Head of the Analytical Center Leonid Grigoriev is convinced that Russia will have to live under sanctions for a long time to come. And at this point it is no easy task estimating which countries are going to suffer more as a result. The expert believes it is important to realize that sanctions will affect not only the Russian economy, they will also impact the economies of the EU and the US.
Sanctions, in some sense, are forever
The sanctions imposed on Russia affect not only the country but the economic growth in both Europe and the US in general. ‘The overall global economic growth has slowed down, but nobody is talking about that, we are going to be the first,’ Mr Grigoriev said, speaking live on the 'Sobytiya. 25-yy Tchas’ (Events. 25th Hour) show on TV Tsentr.
The expert believes sanctions are slowing down international trade and bringing about suspension of a broad range of projects. Trade is slowing down due to political reasons, some firms are suspending sales while others cannot get western loans. ‘Sanctions are a blow to the economic growth - first of all in Europe and in Russia as well. They have put the brakes on us,’ he believes.
‘We have to count on our ability to adapt and modernize,' the expert says, pointing out that in one form or another sanctions are here to stay for a ‘very long time.’
Russia’s response to the sanctions can be very unpleasant, the expert prognosticates. ‘In terms of unexpected, extremely inconvenient and highly intellectual inventions that directly affect our partners we have broken all history records in the past year and a half,’ Mr Grigoriev noted.