American economic sanctions against Russian oil giants were the first measures imposed on Moscow during president Donald Trump’s second term. The imposition of these sanctions brought about a fierce backlash from the Russian government and media.
Dmitry Medvedev is the former president and current deputy chairman of Russia’s Security Council, made the animosity clear on social media “If anyone still entertained illusions this is reality.” Medvedev openly declared the United States its enemy and accused President Trump of being antagonistic toward Russia.
Moscow on the Warpath: An Active Resistance
Maria Zakharova, spokeswoman for the Russian Foreign Ministry, has called the sanctions “counterproductive.” It was during this press briefing that she stated that were the same approach to be taken by the current US administration, it would probably result in diminished local political interests while hurtling the global economy in turmoil. She argues that Russia has built a sturdy barrier against Western restrictions and that it intends to keep strengthening its economy and energy sector in spite of this pressure.
ALSO READ: Who Are Nancy & Rich Kinder? Billionaire Couple Donating 95% of Their Fortune
Sanctions Intended to Put Pressure on Moscow over Ukraine
Sanctions targeting Rosneft and Lukoil as Russia’s energy heavyweight were levied after President Trump aborted a summit with Vladimir Putin scheduled in Budapest. Trump cited failure to advance ceasefire discussions as the reason for cancellation of the talks, asserting that negotiations would be pointless without a halt to hostilities.
This further economic pressure welcomed by Kyiv and its European allies, who at the same time broadened their own sanction regimes against Russia. Experts remained wary about the long-term efficacy of this measure on Russia’s economy, given that Moscow had shown in the past a strong capacity to withstand Western sanctions.
ALSO READ: Who is Juhi Bhatt? Ranveer Allahbadia’s Rumoured Girlfriend: Net Worth, Age, Awards, Father & Film
Russia’s Counterinitiatives Under Growing Pressure
In the face of mounting international pressure, Russia has adjusted by increasing its energy exports to China and India, using a shadow fleet of vessels that try hard to hide from sanctions when exporting oil.
The US under Biden and the EU are attempting to isolate Russia’s financial and energy sectors, so as to cut off funding for its military activities in Ukraine with its tactical responses, Moscow has smoothed out some of this economic damage and stretched its resilience against any global sanctions regime.
ALSO READ: Who was Christa Orecchio? Cause of Death of the Inspirational Author & Nutritionist
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Facts and opinions may change over time.
