The Russian economy and the country’s financial system has adapted to the sanctions regime, said Alexei Ulyukayev. In his opinion, a strong influence on the Russian economy has reduced demand for major export goods of the Russian Federation from the emerging markets.
MOSCOW, 7 Dec. The Minister of economic development Alexei Ulyukayev believes that the impact of sanctions on the Russian economy approaches zero.
“If you mean some geopolitical factor, such as, for example, the preservation of the sanctions regime, I think its value is now greatly reduced, approaching zero,” — said Ulyukayev in an interview with TV channel “Russia 24”, answering the question which of the numerous geopolitical factors have an impact on the Russian economy.
According to Ulyukayev, the Russian economy and the country’s financial system has adapted to this situation.
“The fact that over short distances — a few months — it was very problematic, a longer distance is in a certain sense, even stimulating, I mean import substitution, reduction of costs of enterprises related to the change in market relations”, — said Ulyukayev.
Thus, in his opinion, a strong influence on the economy of the Russian Federation has a geo-economic factor is the reduced demand for major export goods of the Russian Federation from the emerging markets.