It is Difficult for Europe to Have a Clean Economic Break from Russia – Zanny Minton Beddoes

11 September 2023

It is difficult for the European Union to have a clean economical break from russia due to the high demand for its main exported goods.

That opinion was expressed by the editor-in-chief of The Economist, Zanny Minton Beddoes, at the Yalta European Strategy (YES) Annual Meeting “The Future is Being Decided in Ukraine”, organised by YES in partnership with the Victor Pinchuk Foundation.

“Can the West distance itself from russia economically? I think it has been very complicated in the last two years, because russia supplies commodities around the world,” said the editor-in-chief of The Economist.

The number of sanctions that the EU imposed against russia was unexpected. However, according to Zanny Minton Beddoes, European economic sanctions still have a limited impact on russia in connection with its integration into world markets. In particular, Russia can sell its main exported goods to the BRICS countries, primarily to India and China.

“I do not think that sanctions will be decisive for the Ukrainian victory. Much more important here are the courage and resilience of Ukrainians, as well as military and economic support of Ukraine,” said Zanny Minton Beddoes.

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Tacan Ildem
Tacan Ildem
Ambassador, Assistant Secretary General for Public Diplomacy, NATO, 14th YES Annual Meeting, 2017
«A stable, sovereign and independent Ukraine is a key to Euro-Atlantic security.»