OREANDA-NEWS   The head of the Eastern European Institute of the Stockholm School of Economics, Thorbjorn Becker, told what helped Russia resist Western sanctions. He named three reasons for the stability of the Russian economy on the Swedish TV channel SVT.

First of all, he noted the income from the sale of oil and gas. The expert pointed to the fact that Moscow's revenues from the sale of energy resources are still very high. As a second reason, Becker called the effective actions of the Russian Central Bank, which coped with the problems that arose. Thirdly, he pointed out, the experience of previous crises helped Russia. In particular, he recalled the crises of 1998, 2008-2009 and the strong fall in oil prices in 2014.

At the same time, according to Becker, the fall in GDP was about 10 percent. However, these factors led to the fact that Russia coped with the consequences of sanctions better than many experts predicted, the economist concluded.

Earlier, the International Monetary Fund reported that the Russian economy stabilized in the second quarter of 2022 after the sanctions strike. The IMF report notes that now, according to forecasts, Russia's GDP will decline by 3.4 percent in 2022, which is about half of the decline that was initially expected.