Posts: 1,554 +2,843
You keep talking about how great the Russian export market is. The primary thing Russia exports is oil and gas, they have nothing else of value to the rest of the world. War crimes don’t count.
The economy has fared the sanctions better than expected as the EU and countries like Germany have been propping it up by continuing to purchase gas. Once this single source of revenue is cut off then the economy is screwed. It’s already declined 4% this quarter according to Bloomberg this week. Other factors including a ban on chips are starting to bite, which is why we’re seeing widespread reports of chips from looted white goods cropping up in unusual places.
Sanctions are a long game, as economic effects take time to trickle down into tangible results.
p.s your comment about the Russian military being stronger is laughable. They’re still using Cold War tactics and equipment, as clearly due incompetence and corruption that’s all they have. Turns out the big scary bear was just a chihuahua in a fur coat.
Exports are high because oil and gas prices, imports are very low because of sanctions which says they are working and they will hurt very badly in time.
Needless to say Putin is destroying the future of gas exports to Europe which cannot be easily sold elsewhere. An absurd amount of foreign investment in the country has been pulled, permanently. If a global recession does come oil prices will crater. That'll obliterate the revenues they take as well as probably sealing off a large amount of Russian production which has low margins, for good. The young, skilled and educated continue to pull the emergency escape handle and leave for pastures new in the West. A lost generation. Disastrous. Then the EU will reach for the ban hammer and there will be no western foreign education, exchange programs, business trips or much of anything else.
He's absolutely ruining the future of Russia's economy. But OK let the lunatics pretend all is great because they have an artificially pumped currency and fuel prices are temporarily high while the markets adjust....