The Russian economy is starting to collapse due to the war and international sanctions, the influential American publication The Wall Street Journal points out. The exorbitant profits received by Moscow in the first months of a full-scale invasion due to the sharp increase in gas and oil prices are a thing of the past.
The WSJ points to a decrease in the economic characteristics of the Russian Federation and an impending decline in government revenues in the long term. Russia has already lost major buyers of gas and oil, and the ruble has fallen 20% against the dollar since November. The quantity and quality of the labor force in the aggressor country has deteriorated significantly due to the massive outflow of young people abroad and mobilization for war.
At present, losing the European market and Western investors, Moscow is becoming more and more dependent on China.
Despite Russia’s resilience in the short term, the long-term picture is bleak: Moscow will be much more closed and overly dependent on China, says Maria Shagina, senior fellow at the International Institute for Strategic Studies in London.
Recall that the export of oil and gas from Russia last year set several anti-records.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.