The Russian economy repels Western attacks
The Russian economy was confidently able to face the fierce economic war waged by the imperialist powers of the geopolitically Atlanticist maritime empire in 2014 after Western nations imposed a series of economic sanctions against Russia in order to weaken the Russian market and deprive it of necessary technology and necessary factors in the economic cycle. This was also done by opening the front of oil prices against Moscow and increasing the crude oil supply on the global market to lower the price of oil, which is a major source of income for the Russian treasury. Oil prices dropped below the normal standard.
The Western countries imposed a package of sanctions against Russia in 2014 after the Ukrainian crisis was raised, Crimea returned to Russia, and because of the Russian position on the Syrian crisis and its support for the Syrian army. Nevertheless, the wise and balanced deal carried out by Russia with these sanctions and with the oil price warfare led to absorbing the shock of the negative impact of the anti-Russian procedures, and turning the drop of the value of the currency (ruble) into a positive impact on some points, such as leading to a decline in the relative cost of the Russian products, thereby increasing domestic demand and breaking the economic recession. Also, the decline in imports from abroad have played a strong role in stopping the exodus of foreign currency from the Russian market.
Russia is considered an advanced industrial country having certain technology which can enable it to achieve stability not only in the production process, but also in the export of various industrial products.
This Russian strong technological power is backed by Russia’s strong geopolitical and military position in the international arena. This position contributed to repelling the economic attack by the transatlantic powers against Russia, which has stressed that there can no longer be any domination of imperialism on the international market.
Russian President Vladimir Putin declared in his recent speech in last September during the opening session of the Big 20 summit, that Russia has maintained the size of its reserves with a decrease in capital breakouts by five times this year compared to the last year. He pointed out in his speech that "many of the world's leaders underlined the problems and difficulties that are facing the world. However, it is noted today that economic growth is slow, but positive". Putin said: "Inflation has fallen twice ... budget deficit of 2.6% ... we have maintained a low rate of unemployment up to the level of 5.7% ... we have maintained a low level of foreign debt by only 12%".
He added that Russia is now carrying out some reforms and there is growth in the industrial production sphere and in other indicators.
During the business forum between Russia and Singapore, Igor Shuvalov, the Russian First Deputy Prime Minister, declared on November 25th that the Russian economy had overcome its ordeal. Shuvalov said: "We are confident that the most difficult stage of the Russian economy is now behind us ... We went through a difficult time since the first quarter of 2015, or we can say from the last quarter of 2014.”
The Russian Minister of Agriculture said during a committee of the Council of the Russian Federation of Agriculture on Tuesday, November 15th: "The structure of exports and imports today is as follows: we imported products in 2016 of about $ 15 billion versus $ 40 billion three years ago, while exports amounted to $ 10 billion. I posit that by the end of the year exports will reach $15 billion, compared to imports of $ 20 billion". Tkachov added that grain exports in the current year will amount to 35-40 million tons. The grain export sector’s exports have boomed during the past two years thanks to the decline in Russia's currency exchange rate against the dollar, adding to its competitiveness in the global market.
Russia is not dependent only on oil and gas. Russia is known for its heavy industries which wield enormous and advanced infrastructure.
Russia has significantly sophisticated and flourished aerospace and military industries in addition to the industry of trains, railway and machinery.
Moscow is considered one of the most important financial centers in the world. Also, Russia has agricultural diversity. In 2016 and for the second year, Russia is topping the list of global exporters of wheat, surpassing Canada and the United States. Egypt and Turkey are considered the leading buyers of the Russian wheat.
If Russia continues to pursue its economic reform policy aiming to achieve competitive advantage and mass production, besides benefitting from technological energy and potential expertise, and if it takes advantage of the current change in international circumstances in favor of the Eurasian pivot and the formation of the BRICS economic alliance, then we may witness in the coming years not only global geopolitical multipolarity but also "global economic multipolarity".