The Russian economy, despite the sanctions, is holding up much better than many expected. An article with this conclusion appeared in the British edition of the Financial Times.
They stressed that the Central Bank of Russia has taken very quick action to control the movement of capital. As a result, this helped to stabilize the ruble exchange rate.
In addition, Moscow began to sell more oil to China, India and Turkey. This helped Russia mitigate the impact of declining exports to the EU.
At the same time, the FT believes that in the future, the loss of Western technologies that China will not be able to supply Moscow will have a key impact on Russia.
Earlier it was reported that the Estonian authorities intend to apply to the European Commission with a formal proposal to consider the adoption of the eighth package of economic restrictions against Russia. This was announced on Friday by the head of the Ministry of Foreign Affairs of the republic Urmas Reinsalu.
In addition, the Estonian government is currently working to reach a consensus on the issue of limiting the provision of Schengen visas to Russian citizens.
