Medvedev rules out collapse in Russian economy

Deputy Chairman of the Russian Security Council Dmitri Medvedev is convinced that there will be no collapse in the Russian economy due to sanctions.

As Report informs citing TASS that he attributed such confidence to the country's capabilities and partnership with friendly states.

"We have every opportunity for our own development. In many ways, the previously imposed sanctions have only benefited us, forced us to actively develop import substitution in all industries, including knowledge-intensive ones, to develop new technologies, products and medicines," Medvedev said in a Telegram post on Saturday.

He recalled that "the government has already taken operational decisions to support people and the economy: social payments, additional financing of high-tech industries, agriculture, and the banking sector".

"In general, there will be no collapse in the economy," the deputy chairman of the Security Council assured.

Medvedev also drew attention to the fact that "Russia has many reliable partners not only in the post-Soviet space, but also in China, Southeast Asia, and African countries".

"This is a huge, promising market, which is not torn apart by such contradictions as in Europe. The fruits of this partnership and cooperation are more than obvious," the deputy chairman of the Security Council said.