Russian economy in shock

 Epoch Times:

Russian government officials on Thursday said its economy is in “shock” after heavy sanctions and after a number of Western corporations pulled out of the country in recent days after the Ukraine conflict.
...

“This is absolutely unprecedented. The economic war that has started against our country has never taken place before. So it is very hard to forecast anything,” he remarked.

On Tuesday, President Joe Biden announced the United States would ban all Russian oil imports, raising the likelihood of soaring gas prices domestically, over the Ukraine war. And on Wednesday, the European Union announced that it would expand its sanctions on both Russia and Belarus.

Washington’s European allies are, however, more dependent on Russian oil and gas and have held back from sanctioning it.
...

Putin's war against Ukraine has become very expensive for the government and the people of Russia. It has also been expensive military because of the losses to troops and equipment.  The war has shown that Russian tanks and planes are vulnerable and they are also having trouble getting gas to the front and feeding their troops.

See, also:

Putin overestimated ability to bypass sanctions with cryptocurrency, FBI boss says

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t...
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more