TASS — Russia begins recovering from the 'Dutch disease' — Finance Minister Siluanov

Russia's economy is not as heavily dependent on energy exports as is widely believed, and sanctions have resulted in a speedup in restructuring. This is a step that Russia needed to take, just as China needs to develop its domestic economy and is now doing. But Russia is a resource-rich country, and it will provide resources to both Europe and China for a long time to come, especially with the development of high-speed rail across Eurasia ("heartland" of "the world island: Makinder), linking the Atlantic and Pacific.

"The investments that previously went to the oil industry, are now beginning to decline. And the capital will be directed to other, non-oil industries," Siluanov said. According to him, agriculture is currently receiving significant investments, as well as import substitution industry. "And it is a right thing. This is the main motive of all the changes that are taking place, and we support it as a part of anti-crisis plan," the Minister said.

TASS
Russia begins recovering from the 'Dutch disease' — Finance Minister Siluanov