US: Sanctions strongly affect Russian economy

According to Washington's estimates, sanctions already have a significant impact on the Russian economy and the Kremlin lacks funds to wage war.

The statement came from the coordinator for the sanctions policy of the US State Department, James O'Brien, European Pravda reports.

According to him, out of $630 billion of Russian funds in bank accounts, $300 billion are frozen, and Russia is spending the rest.

"We believe that Russia spent more than $80 billion in the first months of this war alone. And, in addition, you can see a reduction in the budget. They have recently lost their most valuable resource - perhaps up to 900,000 Russians have left the country due to mobilisation, sanctions and war," O'Brien said.

The United States also believes that it is much more difficult for Russia to produce everything necessary for waging war inside the country, as well as to import these products.

"Although they earn a little from the sale of oil, gas and fertilisers, they cannot buy a lot of things necessary for modern warfare. So, as of September, imports of semiconductors fell by 70 per cent," O'Brien said.

Washington believes that in the coming years the Russian economy will shrink by at least 16 per cent, and by 2030 - by 20 per cent.

O'Brien added that the Kremlin is looking for ways to circumvent sanctions through other countries by buying dual-use goods, and warned that the United States will not tolerate assistance in this.

"Our signal is very clear: if any company provides Russia with support to circumvent sanctions, it is itself exposed to sanctions. We bring this signal to business not only in partner countries but also in China, Türkiye, India and others," he said.

As reported, in early December, the United States blacklisted more than 10 companies from Russia and Europe that helped the Russian army.

Reports periodically appear in the media that Western components are found in the weapons used against Ukraine.