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According to the former IMF Chief Economist Kennet Rogoff, in Russia, the event'...

"Turns into giant Iran": the expert evaluated the effectiveness of sanctions against the Russian Federation

According to the former IMF Chief Economist Kennet Rogoff, in Russia, the event's sanction plans were not justified, because the Russian Federation has already lost some of its income due to restrictions. After a full -scale invasion of Ukraine, the Russian economy regresses at a rapid pace due to large -scale sanctions from the event.

However, in the future, the economic problems of the Russian Federation can intensify even more, said the former chief economist of the International Monetary Fund (IMF) Kennet Rogoff during the World Economic Forum in Davos. According to him, international sanctions have a serious impact on the economy of the Russian Federation, so in the future the country is at risk of turning into "giant Iran".

"Look at Iran, look at North Korea, look at Venezuela, look at Cuba, where Russia is moving," Rogoff said. He called all the Kremlin's statements that the event's international sanctions were not working and all European plans have failed on this issue. For example, the Russian Federation has already lost some of its income, which indicates a slowdown in production and other sectors of the economy. "If you keep sanctions for a long time and make them stronger and stronger, they work," he said.

Kennet Rogoff also believes that international sanctions can, as a result, trigger an attempt to change power in Russia, although the sanctions themselves have a cumulative effect. Therefore, the event should be considered to continue restriction against the Russian Federation in the event of the victory of Ukraine in the war. Meanwhile, it became known that the G7 and the EU are planning to review price restrictions on Russian oil in March 2023.

Yes, since February 5, 2023, the coalition plans to operate at once two "ceilings of prices": one for products that are usually traded with a premium for raw oil, such as diesel fuel or gasoline, and the other - for products traded with discount to raw oil such as fuel oil. Focus also wrote that in January 2023, India and China were the largest importers of oil from the Russian Federation.