Posted: 08.06.2022 14:13:00

Turkey announced US defeat in economic war

America's aggressive actions against Russia and China have failed – as noted by Ali Guller from Turkey’s Cumhuriyet Gazetesi, RIA Novosti reports


The reporter believes the American politicians’ reliance on ‘total sanctions’ have failed to bring an expected result due to misunderstanding of the structure of Russia which concentrated all its forces on strengthening the national economy.

“The United States has not managed to rein in other countries. They failed to force the developed European economies, led by Germany, to impose energy sanctions. Moreover, it seems the restrictions on grain will be lifted. The US failed to convince Saudi Arabia to co-operate with it in order to control energy markets, and the country was not able to block large buyers such as China, India, South Korea and Turkey,” Mr. Guller said.

According to the publication, Washington has independently driven itself into a difficult situation. “In Q1 2022, the American economy shrank by 1.5 percent, though a 1.1 percent growth was expected at that period. At the same time, inflation is breaking records in the United States: annual inflation unexpectedly rose from 7.9 percent in February to 8.5 percent – to reach a 40-year high. Meanwhile, in early May, the US Federal Reserve System raised the key interest rate to one percent per annum,” it reads.

At the same time, Russian revenues from the sale of energy resources increased by half in April 2022 against the same period in 2021. According to Mr. Guller, the Russian Rouble exchange rate also demonstrates the failure of Western sanctions.

“Contrary to US expectations, the Russian Rouble has strengthened against the Dollar and, since the beginning of the year, it has gained 30 percent against the American currency – to break a record set in the past four years," he noted.