Saudi official: Washington’s energy sanctions on Russia have failed

A Saudi official confirmed that American attempts to limit Russia’s revenues from energy supplies to the global market have failed.

Advisor to the Saudi Finance Minister, Hussein Askari, pointed out that Russia has adapted to the restrictions imposed on it, after it has mastered the best ways to avoid Western sanctions.

A soldier told Russian media: The failure of the United States is due to the willingness of countries to challenge American efforts.

Askari, a former member of the Executive Board of the International Monetary Fund, added that China and India are two countries that need oil and gas, and they are two large countries that are ready to challenge US sanctions.

He pointed out that as long as the cost of Russian energy resources remains acceptable to these countries, the authorities of these countries realize that the United States is not ready to impose sanctions on them for importing Russian energy resources.

Askari stressed that the excessive use of sanctions policies by the United States of America leads to a decline in global trade and a change in the structure of the global economy, and thus more inflation in the world, adding: We may witness the emergence of three or four strong trade blocs, where countries’ policies and financial affairs are more Coordinated.

It is noteworthy that the West has imposed broad sanctions against Russia since the start of the military operation in Ukraine, including restrictions on exports of Russian energy resources across the sea.

Russia announced the redirection of its exports to new markets, led by China and India, which led to a rise in global energy prices and inflicted heavy losses on the economies of the “sanctioned countries,” especially Europe.

Source: Novosti

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