Maxim Oreshkin spoke about the inevitable suffering of the initiators of sanctions

Brief retelling from RIA II

Deputy head of the Russian Presidential Administration Maxim Oreshkin said that those who impose them primarily suffer from sanctions.

Oreshkin noted the acceleration of the process of reducing foreign ownership of government bonds in the United States after the freezing of Russian gold and foreign exchange reserves.

The deputy head of the presidential administration pointed to the growth of the Russian economy over the past three years by 10.3% and cited as an example the steady decline in industrial production in Germany after 2018.

EKATERINBURG, September 15 - RIA Novosti. History shows that those who impose them suffer first from sanctions, said Deputy Head of the Russian Presidential Administration Maxim Oreshkin, speaking at the International Youth Festival.

He recalled that the largest number of sanctions have been imposed on Russia, and they are already difficult to count.

“But who suffered more? In fact, history shows that those who impose them primarily suffer from sanctions, because this devalues ​​the own importance and confidence of other countries in the tools that are provided,” Oreshkin said.

In particular, he gave an example of a decrease in the share of US government bonds that belonged to foreign governments. “After the freeze and the outright theft of Russian gold and foreign exchange reserves by Western countries, other countries immediately became concerned about the safety of their assets. And the process of reducing foreign ownership of government bonds in the United States, which began after the crisis in 2008, accelerated significantly,” Oreshkin noted.

Speaking about the impact of sanctions on economic dynamics, he pointed out that economic growth in Russia over the past three years amounted to 10.3%. “That is, more than the growth of the world as a whole. And the economic dynamics of those countries that have imposed sanctions is actually different,” continued the deputy head of the presidential administration.

Oreshkin also cited the example of the dynamics of industrial production in Germany. “It peaked in 2018 and has been declining steadily since then,” he said.