DISINFO: Putin does not talk lifting sanctions with EU leaders because Russian economy is on the rise
SUMMARY
Putin does not discuss lifting anti-Russian sanctions with EU leaders because Russia’s economy successfully coped with the consequences of these restrictions. It is growing, and the World Bank rated it among the world's leading economies.
RESPONSE
This is a recurring disinformation narrative from pro-Kremlin outlets claiming that the Russian economy is not affected by EU sanctions and that it is even benefiting from them. This claim was made in the context of Russia's full-scale invasion of Ukraine that was launched on 24 February 2022.
Restrictive measures were first imposed on Russia in March 2014 after it illegally annexed the Ukrainian peninsula of Crimea and instigated armed hostilities in the east of Ukraine from Spring 2014. The EU introduced more severe measures in the wake of the 2022 invasion.
Putin and other Russian officials have repeatedly urged lifting international sanctions, the reason being their negative impact on Russia’s economy. Just days within the invasion, Putin might have been really nonchalant about the impact of sanctions, but his attitude changed as Russia’s economy started facing difficulties. As early as May 2022, Putin told French President Emmanuel Macron and German Chancellor Olaf Scholz in a telephone call that “Russia is ready to help find options for the unhindered export of grain, including the export of Ukrainian grain from the Black Sea ports.” It was a clear indication of how crippling the sanctions had proved to be. Scholtz and Macron conditioned a relaxation of sanctions on a Russian withdrawal from Ukraine and “serious” peace efforts from Moscow. Moscow has failed to comply, so more restrictions have been imposed. There have been other Russian attempts to pressure the EU, including reducing gas export to force lifting of sanctions, or pressure the US and other Ukrainian partners into lifting or relieving sanctions.
As for the claim that the Russian economy is one of the world’s leading ones, it is far from being true. The sanctions have crippled it significantly. For example, the International Energy Agency (IEA) reported in May 2023 that Russia's earnings from oil and gas exports fell to £6.5 billion ($8.1 billion) a month in April 2023, from £18.2 billion ($22.5 billion).
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