Russia leads in economic wealth despite sanctions
BUSINESS
11-08-2023

Foto: Cortesía
Publicado: 11-08-2023 12:40:36 PDT
Sanctions and efforts to isolate Russia from the European economy have weakened the European economy, particularly that of Germany
The sanctions imposed by the United States on Russia amid the conflict in Ukraine have deeply impacted European economies, according to Jack Rasmus, a professor of economics and politics at St. Mary's College, California.
In statements to Sputnik, Rasmus stated that this was Washington's plan from the start, and that the Russian economy has surpassed that of Germany largely due to US efforts to trigger a recession in Europe.
The Russian economy reached a significant milestone, surpassing $5 trillion in wealth in terms of purchasing power parity by the end of 2022, positioning it above the leading economies of Western Europe, including France, the UK, and Germany.
However, this economic growth in Russia doesn't represent a failure of US strategic goals, according to Rasmus. Rather, he emphasizes that the sanctions and efforts to isolate Russia from the European economy have weakened the European economy, particularly that of Germany, by raising costs for American products like energy.
The conflict has also manifested in actions such as the sabotage of the Nord Stream 1 and 2 gas pipelines, attributed to acts directed by the Biden Administration. According to Rasmus, Washington's long-term goals include weakening and dividing Russia while maintaining strategic interests in global geopolitics.