Ukraine: How Russia dey plan to fight back against Western sanctions

Russia don spend years dey prepare for dis kain tin, sanctions!

For 2014, wen Russian troops enta Crimea, to kolobi part of Ukraine, e provoke international sanctions, and dat one come teach Moscow beta lesson.

Since dat time, dem don dey arrange defence, comot hand from dollar reliance and dey try to make di Russia economy sanction proof.

President Putin fit dey bet say im fit withstand sanctions for longer than di West dey assume.

International reserves

By January dis year, di goment international reserves for both foreign exchange and gold dey worth pass $630bn.

Dat na di fourth largest foreign reserves for world, and dem fit use am take help di Russia currency, di rouble for long.

E dey important to note say na only 16% of Russian foreign reserves wey dey in dollars and about 13% dey for Chinese renminbi. Five years ago, na 40% bin dey for dollars.

All dis na to protect di Russia in case America carry sanctions put for dia head.

'Fortress Russia'

Dem bin also change di way wey dem bin dey structure di Russian economy.

Dat means dem dey reduce di way dem dey lend on foreign loans and investments, and don dey seek new trade opportunities wey no concern western markets.

China na big part of dat plan.

Di goment for Moscow don also take steps to creat dia own system for international payment in case dem comot dem from Swift, wey be global financial messaging service wey major Western central banks dey control.

E don also dey cut di size of im budget, to boost stability ova growth.

Dis mean say di Russia economy don grow by average of less than 1% per year ova di last ten years but e also mean say di kontri don dey more self reliant.

Dr Rebecca Harding, chief executive of Coriolis Technologies say "wetin Russia det do na to build almost anoda financial system so dem go fit handle some di shock wey Western sanctions fit cause. But di wahala with di Russian system be say dem get web wey dey very thinly spread all ova di world."

Strategic interests

E fit be very dangerous game for Moscow now as sanctions for major Russia banks for state banks fit pain.

Howeva wetin President Putin fit dey calculate na say e get some kain way wey sanctions US , UK and EU fit sama wey go affect dia interest join.

Like sanctions on Russia oil and gas industry go affect EU pass UK on top say EU dey get 40% of dia natural gas from Russia while UK dey get only 3%.

Si Germany sanction to press pause on Nord Stream 2 gas pipeline go affect Russia o, but go also affect energy prices for western Europe.

Target for rich pipo back

So, to target pipo wey get plenti money for scnctions go fit affect pass to sanction di whole economy?

President Putin no get money or oda assets abroad for im own name for obvious reasons. But e get ver rich supporters dem wey dey hold am for am.

Prof Tomila Lankina from di London School of Economics say, "Dem bin don sanction rich pipo for 2014 but e no reach. Change go only de if dem focus d sanctions for dem well-well".

London na beta place to look at on top say dem get beta network of frnt companies, properties dem and political influence.

Di UK goment don sanction some specific pipo but Transparency International point out say about £1.5bn of Russian money dey for inside London property alone.

Prof Lankina say "Western goments no dey only fail Russian pipo as dem dey allow dis tins to happun, dem dey also fail dia pipo."

Holding back

Western leaders don announce say di sanctions wey dem don impose ova dipast few days na just di beginning but e fit make Russia change dia mind with wetin dem dey do?

Doubt no dey say sanctions fit get impact, but dem neva carry dias kain sanction package sama economy wey big like Russia before.

So to make sure say e work, di West go need siddon on am for long.