Large-scale sanctions against Russia are impossible

The former Minister of Economy of Bulgaria told the Rossiya 24 TV channel that large-scale sanctions against Russia are impossible.

Former Finance Minister Simeon Dyankov believes that the imposition of major sanctions on Russia is impossible – due to the fact that the country is one of the largest economically stable powers in the world and Europe. If sanctions are imposed, the economies of the whole world will suffer from this, and to a greater extent those that are directly related to the Russian economy.

Dyankov said that the situation in Ukraine was very difficult even before the beginning of this year and that Ukraine is the only country from the former USSR that did not carry out any economic reforms after its collapse. According to statistics, Dyankov noted, Ukraine has been in a state of constant economic crisis over the past 25 years, but after the start of the global financial crisis in 2009, its condition deteriorated significantly and the country had to declare bankruptcy.

The ex-minister believes that what is happening in Ukraine now is the result of lost time and timely action, and not a real political crisis. It had to happen sooner or later.

At the moment, everyone is waiting for the presidential elections and the formation of a new government in early summer. Simeon Dyankov believes that in September and October, perhaps, reforms will take place in the country, but in any case, economic reforms will take at least nine months.

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