Russia's chances for economic revanche

The author analyzes the reasons for the unexpected resilience of the Russian economy to Western sanctions. He concludes that the main reason is the blocking by the collective West of Russia’s international gold and foreign exchange reserves, which deprived the Bank of Russia of the opportunity to conduct foreign exchange interventions. It reveals the mistakes of the US monetary policy, which provoked a new crisis of the world economy along the lines of the 1970s. Shows that this crisis opens up opportunities for Russia for rapid economic growth. Gives appropriate recommendations for correcting the monetary policy of the Bank of Russia.