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russia should lose its super-profits from selling resources, - Jeffrey Sonnenfeld

Despite sanctions, russia continues to get high profits from selling its energy and natural resources.

This is what Jeffrey Sonnenfeld, Associate Dean Senior Associate Dean for Leadership Studies & Lester Crown Professor in the Practice of Management stated at the 16th Annual Kyiv Security Forum established by the Arseniy Yatsenyuk Foundation “Open Ukraine”.  

He also mentioned that the IMF projections speak of a rising economy in russia, but real statistics is suppressed, so this is invented and has no anchor in reality.

“This is now the economy that has converted itself to become for some 65-70% state controlled. So putin is using the remaining economy as a cooking jar, he is throwing the living room furniture into the furnace to keep his war machine going,” - Professor Sonnenfeld argued describing the reason of Russian economy rising.

In russia, many sectors remain unsanctioned and continue to bring super-profits to state budget.  

For example, over the past year Russia received some 60 billion dollars net revenues from metal exports.

“Should the world remain complacent? The world should ensure that sanctions are effective,” - Jeffrey Sonnenfeld emphasized.

The 16th Annual Kyiv Security Forum is held March 21-22, 2024, to gather transatlantic support for Ukraine. This year Forum slogan is “Ukraine’s call to the World: Together We Prevail!”.

© Arseniy Yatsenyuk Charity Foundation "Open Ukraine"
locationUkraine, Kyiv, 01001
Kyiv Security Forum
Arseniy Yatsenyuk Foundation
© Arseniy Yatsenyuk Charity Foundation "Open Ukraine"