Vladimir Milov: "Sanctions"

“The key problem of the Russian economic system today is the accumulated huge external debt. No, not the state, the state external debt is at a relatively low level, which the authorities constantly boast about. But this iceberg also has a reef - the huge external debt of banks and companies, which, according to fresh data from the Central Bank as of July 1, exceeded a record 650 billion dollars.

For the uninitiated: this was the reason why our economy has not yet fallen into recession; our banks and companies continued to increase debt at a high rate, mainly attracting loans from the same notorious West."