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Russia is able to cope with possible Western sanctions

22 February 2022

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, President of the Institute for Energy and Finance Foundation, commented to Rossiyskaya Gazeta on the West economic sanctions.

"Sanctions can be introduced in several rounds," Marcel Salikhov, director of the Center for Economic Expertise at the Higher School of Economics says. "First, soft restrictions on specific people. Then, after all approvals are passed, against sectors of the economy." Banks may be the first to suffer, Salikhov believes. They will be sanctioned one by one.

“The oil sector is unlikely to face restrictions, unless they strengthen the bans on financing the industry, the participation of foreigners in our companies,” Salikhov continues. Although the certification of Nord Stream 2 has already been stopped, this project may remain frozen until the contradictions are resolved."

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