“The initiators of the sanctions can be convinced that they are ineffective and often create the opposite effect,” he said in an interview with the Izvestia newspaper.

In particular, Patrushev noted the development of domestic machine-tool and instrument-making.

“Currently, as a result of the large-scale implementation of import substitution plans, these industries are getting a new life,” he explained.

Rane, Finance Minister Anton Siluanov, said that the sanctions and hostile rhetoric of Western countries did not undermine investor confidence in Russia's assets.

Vladimir Vasiliev, Chief Researcher at the Institute of the USA and Canada Studies, Russian Academy of Sciences, in an interview with the publication PolitEkspert, evaluated the United States sanctions policy towards Russia.