Despite facing years of sanctions from the US and EU, the Russian economy is growing again thanks to a winning formula of low debt and high reserves. The sovereign debt of Russia is a fraction of that in developed countries like the UK or US. Russia’s foreign debt now stands at $525 billion, compared to $7.5 trillion in Britain, $5 trillion in France, $4.8 trillion in Germany, and an eye-watering $21 trillion in the United States.