US economic sanctions against Russia are useless: Analysts

SANAA, Aug. 18 (YPA) – Analysts said on Saturday that the new US sanctions against Russia will not achieve the desired goal.

The US authorities have approved a new round of “infernal” sanctions, according to US senators who drafted a bill to “punish” Russia.

The new US sanctions include a ban on supplying oil and gas sector in Russia with money and Western techniques.

The analysts see that the new US sanctions on the Russian oil and gas industry will not have big impact because Russia has largely reduced dependence on Western money and technical equipment imported from abroad during the past four years.

This was done by expanding the use of Russian-made equipment and techniques and obtaining loans from Russian banks. Thus, the result was that the prices of Russian oil companies’ shares did not decrease, but rose by 2 per cent.

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