* Sanctions on Russia have had a withering effect on Moscow's economy, the European Union said.
* That's one of the main reasons why Russia's economic future looks "bleak," according to one official.
* Despite Putin's show of defiance, scholars say Russia is in a far worse state than the Kremlin has let on.
Russia's economic future is looking grim amid signs that sanctions against the nation have had a lasting impact on its ability to function, according one European Union official.
The European Union imposed 11 rounds of sanctions against Russia starting shortly after it invaded Ukraine in February 2022. Measures included kicking Russia out of the SWIFT global financial communication system, greatly limiting energy imports from Russia, and establishing a $60-per-barrel price cap on Russian oil.
"Some people claim these sanctions have not worked. This is simply not true. Within a year, they already limited Moscow's options considerably causing financial strain, cutting the country from key markets and significantly degrading Russia's industrial and technological capacity," EU official and European Commission vice president Josep Borrell said in a recent statement. "To stop the war, we need to stay the course."
Read more ....
Update: Russia earns less from oil and spends more on war. So far, sanctions are working like a slow poison (AP)
WNU Editor: Other EU leaders have a different point of view .... Germany's Baerbock decries weak impact of Russia sanctions (DW).
As to what is my point of view.
All my family members, friends, and contacts in Russia are telling me the same thing. Sanctions have worked in making Western goods and products more expensive, but the shelves are not empty and all the basic needs are being met. And I expect no changes for the foreseeable future.
Russia is now a war time economy. The economy has been shifted to fight a war, not to boost a civilian economy. The standard metrics that the EU is using to measure the impact of sanctions on Russia do not apply.
The EU report is here .... Yes, the sanctions against Russia are working (EEAS).
But not very long ago we read that the sanctions were not working. What changed? the source of statements?
ReplyDeleteLook what Russia went through during WW2, they will adapt and survive. When big changes come for the west, and they are coming, we will destroy ourselves from within.
ReplyDeleteif Russia survived why would we not? your bias is glaringly exposed.
ReplyDeleteexample: Switzerland one of a number of offshore banking places. 4 top banking officials very recently exposed as laundering millions of dollars belonging to Putin himself. (see Financial times today for article)
12:37 Dig further and you will find one of the big guys alias'
ReplyDeleteBig Guy is being replaced this spring. Gavin Newsom will be the Democrat nominee. It will be swept under the rug by the Democrat Party, Washington DC and the MSM. Not a god damn thing the Russians can do about it.
ReplyDeleteHe is dumb, but not quite as dumb as Kamala. what is important is he relatively youthful, has good hair, a good smile and he will follow orders to implement Democrat socialist policies.
^^trump misfit
ReplyDeletestop babbling the GOP now in charge of House. Let them explore and bring charges. calling names and then saying things dismissed is hardly presenting evidence of anything. Stop whining and present evidence or stop bullshitting.
Russian troll aping Frederick Lapides the little boy whose tighty whities are in a knot
ReplyDeletehahahahahahahahahahahahahahaha!!You gotta be kidding man!
ReplyDeletename calling a sure sign of low IQ dopes..nothing to say and so like little girls in grade school they spit out name calling. go forth and sin no more girls
ReplyDeleteThe irony
Deletewhen you're reduced to asking the Norks for weapons, you know you've been reduced good and proper
ReplyDelete