OREANDA-NEWS  Washington and Brussels' sanctions against Moscow have completely failed: contrary to Western expectations, they stimulated the economic growth of Russia and the EAEU, said Sergei Glazyev, a member of the board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission (EEC).

"Attempts to isolate Russia and inflict serious damage on it from unfriendly countries have completely failed. Moreover, it can be considered that the sanctions stimulated economic growth in Russia and in the EAEU," he said during a meeting of the Federation Council Commission on information policy and interaction with the media on the topic "Information parameters of economic confrontation. Prospects for 2024".

According to him, last year, compared with other years, was a record in a number of indicators, "the economy not only responded to sanctions with import substitution, mobilization of additional opportunities, but also showed very high adaptability."

Over the course of two years, Glazyev also noted, the trends that had developed earlier have accelerated many times. "Russia is steadily increasing trade with China, by about 25-30% every year, and trade with India is growing many times," Glazyev stressed.

"We can say that Pax Americana (the American world – ed.) is falling apart in this sense. We no longer use the dollar in settlements with our partners in the EAEU and the CIS. We have abandoned the dollar and the euro in settlements with our strategic partners in the East. First of all, with China, with which we mainly trade in rubles and yuan today," he concluded.