What, again?

As I've already remarked, there are no greater fools in the First, Second, or Third World third year in a row than Guriev, Aleksashenko, McFaul, Yermak & other members of The International Working Group on Russian Sanctions.

Russian external debt has fallen to its lowest level since 2006, to give one example. In other words, Russia may, should it feel a compelling and urgent need to, pay its debt entirely with $300 billion of Russian reserves frozen in the West.

Russia’s monthly GDP YoY keeps slowing somewhat thanks to Nabiullina’s dogmatic policy, but still it remains higher than 3%:

Another interesting comparison: