Post by account_disabled on Feb 20, 2024 2:20:27 GMT -5
As the war in Ukraine continues, the West continues to dominate the economic battlefield. His sanctions are severely punishing the Russian economy. The army's attempts at a counter-attack seem likely to fail. And the result is a psychological blow to China, whose state-capitalist system already seemed fragile. First we get the sanctions. By freezing most of Russia's foreign reserves, the West disabled Moscow's main tool for protecting its currency. In the first 2 weeks of the war, the ruble lost almost half its value against the dollar. Rising import prices, panic buying by Russian citizens, and shortages caused by other sanctions pushed inflation up to 2 percent a week. If this rate is maintained, Russia's annual inflation would reach the catastrophic level of 175 percent.
Russia's leaders have tried to prop Brazil Telegram Number Data up the ruble, but this has brought new difficulties. The Central Bank has doubled the key interest rate, punishing businesses and households, prompting experts to predict a deep economic recession. Authorities have cracked down on capital controls, preventing ordinary Russians from exchanging rubles for dollars, and limiting their ability to withdraw dollars from their bank accounts. The Russians are most likely leaving the country. Read also: Today the opposition protest, here are the roads that will be blocked More than half of Albanians do not take vacations, 70% of them do not have financial opportunities, a record in Europe About 70,000 tech workers are said to have already left.
The sanctions have also hit foreign investors. Russia has banned non-residents from selling shares they own in Moscow. Sanctions have also prevented interest payments to foreign bondholders. Terrified by the destruction of cities in Ukraine, about 500 Western businesses operating in Russia have already pulled out, many of them without a clear plan on how to sell their assets in the country and recover. capital. The British oil giant "British Petroleum" is expected to suffer a loss of 11 billion dollars from its departure from Russia. Foreign business confidence is unlikely to recover as long as Vladimir Putin is in the Kremlin. Russia's latest move was to condition its natural gas exports to be paid for in rubles.
Russia's leaders have tried to prop Brazil Telegram Number Data up the ruble, but this has brought new difficulties. The Central Bank has doubled the key interest rate, punishing businesses and households, prompting experts to predict a deep economic recession. Authorities have cracked down on capital controls, preventing ordinary Russians from exchanging rubles for dollars, and limiting their ability to withdraw dollars from their bank accounts. The Russians are most likely leaving the country. Read also: Today the opposition protest, here are the roads that will be blocked More than half of Albanians do not take vacations, 70% of them do not have financial opportunities, a record in Europe About 70,000 tech workers are said to have already left.
The sanctions have also hit foreign investors. Russia has banned non-residents from selling shares they own in Moscow. Sanctions have also prevented interest payments to foreign bondholders. Terrified by the destruction of cities in Ukraine, about 500 Western businesses operating in Russia have already pulled out, many of them without a clear plan on how to sell their assets in the country and recover. capital. The British oil giant "British Petroleum" is expected to suffer a loss of 11 billion dollars from its departure from Russia. Foreign business confidence is unlikely to recover as long as Vladimir Putin is in the Kremlin. Russia's latest move was to condition its natural gas exports to be paid for in rubles.