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| Caucasus/Russia/Central Asia |
| Russian economy contracts under pressure from sanctions |
| 2022-08-13 |
| [Politico] Where are all the Russian fans telling us that Russia-China-India-Israel will be the new World Power? You know who you are ;-) The Russian central bank forecasted that the country's economy will shrink by between 4 percent and 6 percent this year and by between 1 percent and 4 percent in 2023, before returning to positive growth in 2024. The Finance Ministry last month said the economy shrank by 4 percent in the second quarter, after growing 3.5 percent in the previous three months. The contraction is a sign that unprecedented restrictions imposed by the EU, the U.S. and other countries supporting Ukraine are starting to bite, according to observers. Sanctions targeting Russia's energy exports led to a rise in energy prices, which partly cushioned their impact, along with emergency measures by Moscow aimed at maintaining a strong currency. But bans on technology shipments ground manufacturing to a halt, and the downturn is likely to continue in 2023, as an EU ban on most of Russia's oil exports kicks in at the end of the year, restricting export revenues which have been the lifeline of Russia's economy. The Kyiv School of Economics recently wrote that once its oil and gas revenues fall, "Russia will then face a difficult choice between high inflation and tighter policy. In either scenario, its capacity to support its economy and prosecute its imperial war of aggression in Ukraine will be significantly impaired," it said. Separately, Russia's National Settlement Depository on Friday filed a lawsuit with the Court of Justice of the EU in Luxembourg seeking to lift sanctions imposed on it by the bloc, arguing that they are "unlawful and unjustified" and that "international investors have suffered as a result." Russia has already entered a technical default by missing a bond payment deadline in June, citing force majeure and arguing its inability to pay was due to Western sanctions. |
| Posted by:Frank G |
| #10 There are no real environmentalists, anyway. Except for the good folks that plant trees, research innovative cultivation and actually non-destructive forms of industry, fight against poaching and deforestation etc. Unfortunately the globalists do not endorse those. No, for them environmentalists only mean mercenary eco-terrorists and law-farers and uncouth, dishonest academics trying to strong arm administrations and economies. |
| Posted by: Dron66046 2022-08-13 15:47 |
| #9 I wonder how environmentalists would respond to "hysteria of the hysterics". Greta would respond quite freely. A polarity of extremes. |
| Posted by: Dale 2022-08-13 15:05 |
| #8 Wow, Dale. Those are some baffling numbers! Thanks for the link. |
| Posted by: Dron66046 2022-08-13 15:04 |
| #7 Big return on investment. |
| Posted by: Dale 2022-08-13 15:00 |
| #6 With extreme weather in EU No more extreme than usual, Dale, despite the hysteria of the hysterics. |
| Posted by: trailing wife 2022-08-13 14:41 |
| #5 You left out Latin America, Africa, Vietnam, Arab world, Cambodia and Laos. The shift has begun in a big way. With extreme weather in EU and winter fast approaching I look for Germany and France to buckle(Norway has cut gas to EU and one other cut gas I believe Algeria, Australia is in there somewhere). Returning lands to Poland will be a major move for Putin. As always to the victor will go the spoils. The dog bites both masters. |
| Posted by: Dale 2022-08-13 14:29 |
| #4 The entire world economy is under pressure from inflation, loss of materials due to the war, etc. Russia isn't special in this. However, they sure as fuck won't starve to death either. |
| Posted by: DarthVader 2022-08-13 14:18 |
| #3 ^ Good comment, Dron. A trifle pessimistic for my tastes, but a good comment. |
| Posted by: Matt 2022-08-13 13:01 |
| #2 2024... who knows what'll happen by 2024? The condition of the world as volatile as it is, no one can bet on anything. Or against. There are just too many variables. One thing is for sure. Idiots support globalists and the wise are in favour of strong, closed border sovereign nation states. And idiots being in abundance, globalists will probably keep on plodding toward total dominion, laying waste to whatever our ancestors have painstakingly built. |
| Posted by: Dron66046 2022-08-13 12:21 |
| #1 So we are winning and Russia is near collapse says the last idiot. There is always a last idiot. |
| Posted by: Super Hose 2022-08-13 11:42 |