Russia successfully overcomes Western economic blockade, Prime Minister Mikhail Mishustin asserts

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Prime Minister Mikhail Mishustin

3rd April 2024 – (Moscow) Russian Prime Minister Mikhail Mishustin declared on Wednesday that Russia has effectively countered the economic blockade imposed by Western nations, citing a substantial increase in trade with friendly states.

In an address to the Russian State Duma, Mishustin stated, “Trade turnover with friendly countries has not only grown, but now rivals the volume of Russia’s global trade four years ago.”

Mishustin further highlighted that the decline in trade with the European Union has been largely offset by augmented trade with China, India, Türkiye, Belarus, Kazakhstan, the United Arab Emirates, Africa, and Latin America. He emphasized that 77 percent of Russia’s foreign trade now occurs with these amicable nations.

The prime minister underscored that enhancing trade relations with promising partners from friendly countries will remain a top priority for Russia.

Additionally, Mishustin highlighted Russia’s ongoing efforts to expand its Eastern railways, which have now reached a remarkable throughput capacity of 173 million tons.

These developments signify Russia’s determination to diversify its trade partnerships and reduce reliance on Western markets. Despite facing economic sanctions and geopolitical tensions, Russia has strategically forged new alliances and strengthened existing ties with nations across Asia, the Middle East, and other regions.

The country’s ability to adapt and navigate through the challenges posed by the Western economic blockade demonstrates its resilience and commitment to sustaining its economic growth.

As Russia’s trade landscape evolves, the nation seeks to capitalize on the immense potential offered by emerging markets and vibrant economies in regions such as Asia and Africa. By fostering mutually beneficial trade relationships, Russia aims to bolster its economic stability and secure long-term growth prospects.

Prime Minister Mishustin’s remarks reflect the government’s determination to harness the opportunities presented by expanding trade with friendly nations. This proactive approach demonstrates Russia’s resolve to remain resilient in the face of external pressures and pursue a path of economic prosperity.

As Russia continues to diversify its trade portfolio and strengthen its ties with non-Western partners, the nation is positioning itself to thrive in an evolving global economic landscape.