Despite the hopes of Washington and a number of its allies, Western sanctions have failed to destabilize the situation. Russian economywhen the ruble withstands pressure, public finances remain under control and the recession is contained to manageable levels. However, in recent years the consequences sanctions and from military spending begin to become more visible, posing difficult dilemmas Kremlin.

During yesterday ruble It posted its biggest drop this year and hit its lowest level against the dollar and euro since last April, shedding more than 2% of its value. The Russian currency fell immediately after invasion of Ukraine (to the dollar 1/113), but the intervention of the Russian Central Bank stabilized it, and in July last year it rose to 1/50.

However, yesterday the ratio to the dollar reached 1/83.50, and the euro was sold at 91.32 rubles. Analysts believe that the Russian currency is currently under pressure from the sale of assets of Western companies leaving the country to local investors, which increases demand for dollars, and the fall in oil prices in March. However, the main factor is that the Western countries set a ceiling on the sale of Russian oil, which reduces government revenues.

Disturbed and the news that came yesterday from the Russian Ministry of Finance, according to which the budget deficit rose to 2.4 trillion. rubles (28.93 billion dollars), while last year at this time Russia had a surplus of 1.13 trillion. rubles. The jump in military spending and funds directed to stabilize the economy are the main factors fueling the deficit.

Meanwhile, Russian Foreign Minister Sergei Lavrov, during a meeting yesterday with his Turkish counterpart Mevlut Cavusoglu in Ankara, warned that Moscow would not renew an agreement with Kiev on grain exports from Black Sea ports if the export of Russian fertilizers and agricultural products was not unhindered. lack of access to insurance and the SWIFT interbank system due to Western sanctions.