Putin’s Answer to U.S. Sanctions Is More Economic Isolation
- Russia will continue down path to autarky: IIF’s Ribakova
- Russia has already reduced exposure to dollars, added to gold
The Ministry of Foreign Affairs headquarters building in Moscow on April 15.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russian President Vladimir Putin is likely to respond to the latest round of U.S. sanctions threats as he has to past ones: by speeding his drive to make Russia’s economy more self-sufficient.
In the seven years since Russia’s annexation of Crimea, Putin’s government and central bank have stripped back the country’s exposure to dollars, shifted assets out of the U.S. and sold a smaller share of its debt to foreigners.