Moscow’s economy is adapting to the sanctions but the damage is evident

Undoubtedly, Putin has shown that he is able to react well to the unprecedented restrictions of the West. This does not mean that they have served no purpose or, worse, that they have penalized Europe more than Russia

The forecasts of the IMF on the economy of Russia have caused uproar and surprise which, after a recession of 2.2 percent in 2022, will start growing again this year albeit at a 0.3 percent. IS a substantial change, if we consider that only in October the IMF estimated a contraction of 2.3 percent of Russian GDP for 2023 as well. And it is a much more optimistic estimate than those of the Russian authorities, if one considers that the Russian Central Bank in its monetary policy guidelines, published last November, forecasts a contraction of GDP in 2023 greater than 2022. The news was received almost with glee from some Italian media, those hostile to supporting Ukraine, to argue that Western sanctions don’t work.