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West’s sanctions force Russia to manage its wealth wisely, says Kurchatov Institute chief

April 10, 17:29 UTC+3 MOSCOW

The president of Russia’s Kurchatov Institute National Research Center said that one positive effect that the Western sanctions have had is that they make Russia handle its money far more sensibly

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© EPA/MAXIM SHIPENKO

MOSCOW, April 10. /TASS/. Mikhail Kovalchuk, President of Russia’s Kurchatov Institute National Research Center, has said that one positive effect that the Western sanctions have had is that they make Russia handle its money far more sensibly.

"Today sanctions force us to manage our wealth wisely," he told reporters.

Kovalchuk branded the restrictive measures as an attempt to isolate Russia and a sign of unfair competition. "However, on the other hand, a lot of new (opportunities) have emerged," he noted, adding that because of the sanctions, Russia began to beef up the development of its own industry and agriculture. He noted that the loss of a considerable part of the capital by some wealthy businesspeople due to the sanctions was not as important as the need to ensure the smooth operation of factories throughout the country. "It is important to make sure that [the recession] does not affect real facilities and resources," Kovalchuk stressed.

"Sanctions should help us become stronger and more independent," he concluded.

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