January 27, 2023

Raven Tribune

Complete News World

What is Russia’s economy really like?

  1. Home page
  2. Politics

Created by:

including: Tobias Woods

The Russian economy has been hit by Western sanctions. Pressure is mounting on Vladimir Putin.

Moscow – Since then the international community, primarily the United States and the EUSanctions against Russia Response to invasion Ukraine Enacted, efforts Vladimir Putin On domestic political sovereignty of interpretation. First, the West hurts itself more. Putin has repeatedly asserted that Russia will handle the crisis better than anyone else.

Yale University scientists have now analyzed how the Russian economy is actually performing after sanctions. The result is “catastrophe”, as the researchers put it study revealed. “The assumption that the Russian economy is particularly resilient is a lie,” they explained in the special issue. Social Science Research Network.

Ukraine war news: “Sanctions have devastating effect on Russia’s economy”

The study conducted at Yale University is based on independently collected data. numbers Moscow Unbelievable, the researchers insisted. Among other things, scientists studied how Russia’s audit institutions and international trading partners assess the economic situation. In addition, data on per capita consumption were evaluated.

The military has already raised the Russian flag in Kharkiv, Ukraine. © Viktor Antonyuk / Imago Images

More than 1,000 foreign companies have already left Russia. Gross domestic product (GDP) has been hit by more than 40 percent since the sanctions began. According to the researchers, two factors play an important role: on the one hand, production is “stopped”, and on the other hand, there is currently no capacity to replace “lost companies, products and talent”. Export and import trade is affected by economic sanctions.

News about the war in Ukraine

Putin is struggling with increased pressure on Russia

Putin is currently reacting to economic chaos with state subsidies, the scientists explained in the study. This tears a huge hole in the Russian government budget. “Kremlin finances are in much worse shape than previously thought.”

See also  Former Trump Adviser Steve Bannon: MPs vote for law enforcement

Western economic sanctions on Russia are showing their effectRecently confirmed data also from the European Commission: confirmed by the authority in Brussels German press agencyExport trade in particular can be heavily regulated. Billions worth of Russian central bank reserves were also frozen. “The available data shows very clearly that the sanctions are working,” said a senior EU official who asked not to be identified.

Ukraine war news: Russia is being pushed into a new economic system

The EU Commission added that Russia must now become a self-sufficient economy. Putin was forced to make this change by sanctions. Authorities in Brussels stressed that a lack of access to foreign technologies and growing difficulties in supply chains could pose challenges for the Russian state. (Do)