BEIJING, June 16. /TASS/. Russia has survived the unprecedented pressure from Western countries and is ready to develop long-term projects with friendly countries, Russian Ambassador to China Igor Morgulov said on Friday.

"At present, an unprecedented sanctions pressure is being exerted on Russia [on the part of the West], that is aimed at breaking the country’s economy, undermining the stability of the national currency, and lowering living standards in our country," he said, addressing a forum on the sidelines of the 13th China Overseas Investment Fair, currently running in Beijing. "These calculations of our ill-wishers failed. Not only has the Russian economy survived, but it continues to develop gradually," he emphasized.

The diplomat pointed to a record low inflation in Russia, which is currently standing at 3.5%, while as of early May, Russia’s consumer prices growth slowed to 2.3%, measured year over year, to "the lowest in Europe," Morgulov underscored.

"We are ready to implement promising long-term projects across Russia, that would be of mutual benefit," he concluded.