Moscow, Russia—Russian Deputy Prime Minister Alexander Novak, who is responsible for the energy and economy sectors, refused to accept statements made by US President Donald Trump.
In which he warned of an “imminent collapse” of the Russian economy due to the continuing war in Ukraine,
describing it as “inaccurate and not reflecting the actual reality in the Russian market.”
Yesterday, Trump stated that President Vladimir Putin must “settle the war in Ukraine.”
Noting that Russia is now in a “very bad situation,”
He also spoke of “long queues for gasoline” and that the Russian economy was “on the verge of collapse.”
Novak said during an energy conference in Moscow: “We have stable supplies in the domestic market,
and We see no problems in this regard.
and The balance between production and consumption is maintained, and we, on the part of the government and the relevant ministries,
We are doing our utmost to ensure that this situation continues.
Economic slowdown, not collapse
Official economic data indicate a slowdown in Russian economic growth.
The government expects GDP growth of 1.0% for 2025.
This follows growth of 4.3% in 2024 and 4.1% in 2023.
For its part, the International Monetary Fund lowered its growth forecast for 2025 to 0.6% from 0.9%.
However, Moscow says this slowdown is intentional and aims to “prevent the economy from overheating.”
Emphasizing the Russian economy’s ability to adapt to “the harshest sanctions ever imposed on a major economy in history.”
Fuel crisis and its solution
Some Russian regions have experienced gasoline shortages due to several factors, including reluctance among major retailers to purchase.
This is during winter due to high interest rates despite the existence of a surplus.
Ukrainian drone attacks also disrupted the operation of some refineries.
But the Russian government has confirmed that the situation is under control, with supplies being directed to the affected areas.
It imposed temporary restrictions on the export of petroleum products to ensure fuel availability in the domestic market.
The economy as a battleground between Moscow and the West
With more than three years of war in Ukraine, the economy has become one of the most important battlegrounds between Russia and the West.
Ukraine’s supporters believe that the Russian economy is weaker than it appears.
They hope that sanctions and economic pressure will spark popular discontent that will force Putin to change course.
In contrast, the Kremlin insists that Russia has “stood firm in the face of sanctions” and will “not back down under any external pressure.”
confirming the continuation of its policies in Ukraine.
