22:21 GMT27 January 2020
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    There is nothing left for Russia to gain from the dollar-based economy model, Russian economist Mikhail Khazin said on Wednesday at a conference at the International Information Agency Rossiya Segodnya.

    MOSCOW, September 24 (RIA Novosti) – There is nothing left for Russia to gain from the dollar-based economy model, Russian economist Mikhail Khazin said on Wednesday at a conference at the International Information Agency Rossiya Segodnya.

    “There is nothing we will gain anymore from the dollar model. It's run dry,” Khazin said during the round table discussion at a time when the Russian economy is feeling the effects of increasing sanctions from Western countries.

    According to the economist, Russian problems are the result of a denial of its own model in the 1990s. Russia realizes today that the model is “in deep crisis”.

    As for relations between the European Union and the United States, Khazin said that the US aim is the deindustrialization of Europe. “We are observing an economic war between the United States and the EU. They [United States] aim is to deindustrialize Europe.”

    The sanctions, he said, are “America's punishment” for Russia getting in the way of the rebuilding of the US economic model.

    The views and opinions expressed in the article do not necessarily reflect those of Sputnik.

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    economy, dollar, European Union
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