A View from the Top: Chief of the Presidential Administration Sergey Ivanov Welcomes Sanctions


Kremlin Administration Chief Sergei Ivanov is rooting for sanctions against his country as they work in favor of domestic production, reports Newsru.com.  Ivanov believes that Russia weathered the most difficult period and that it’s all downhill from here.  He also seems completely oblivious to the bleak perspective of the two national reserve funds that Slon.ru wrote about a couple of days ago.  “The Reserve Fund and the National Wealth Fund haven’t been reduced,” Ivanov stated.  Slon.ru, however, found that the money from the two reserve funds leaked at a pace of approximately USD 12,000 per second in the period from February 2015 to June 2016.

Ivanov was quite explicit about his desire to keep the sanctions against Russia in place longer, as they help diversify the local economy, something the Russian administration has been advocating, at least in public, for years. Ivanov highlighted the 30-35% growth of the chemical industry as one of the benefits of the sanctions and praised the Russian Central Bank’s reasonable monetary policy that reduces the inflation and increases the foreign currency and gold reserves.  He added that the EU countries realized that Russia survived the sanctions effortlessly, while the damages to EU businesses continue to rise.  Ivanov doesn’t expect the sanctions to be lifted by the end of this year.  He believes that the sanctions are not Russia’s fault anyway – in his opinion, it is obvious that Ukraine has no intention to uphold the Minsk Protocol that Russia, Ukraine and its two secessionist regions signed in September 2014.  Fulfillment of the Protocol is one of the main conditions for lifting the sanctions against Russia.


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