Agreed.funkervogt wrote: ↑Thu Jun 02, 2022 2:35 amThis is Russian trash TV. They say all kinds of threatening and extreme things to appeal to the emotions of Russians and to (hopefully) intimidate Westerners.
Russia is Winning the Economic War - and Putin is No Closer to Withdrawing TroopsIgnore it.
by Larry Eliot
June 2, 2022
Introduction:
Read more here: Russia is winning the economic war - a ... Guardian(The Guardian) It is now three months since the west launched its economic war against Russia, and it is not going according to plan. On the contrary, things are going very badly indeed.
Sanctions were imposed on Vladimir Putin not because they were considered the best option, but because they were better than the other two available courses of action: doing nothing or getting involved militarily.
The first set of economic measures were introduced immediately after the invasion, when it was assumed Ukraine would capitulate within days. That didn’t happen, with the result that sanctions – while still incomplete – have gradually been intensified.
There is, though, no immediate sign of Russia pulling out of Ukraine and that’s hardly surprising, because the sanctions have had the perverse effect of driving up the cost of Russia’s oil and gas exports, massively boosting its trade balance and financing its war effort. In the first four months of 2022, Putin could boast a current account surplus of $96bn (£76bn) – more than treble the figure for the same period of 2021.
When the EU announced its partial ban on Russian oil exports earlier this week, the cost of crude oil on the global markets rose, providing the Kremlin with another financial windfall. Russia is finding no difficulty finding alternative markets for its energy, with exports of oil and gas to China in April up more than 50% year on year.
The article does go on to acknowledge that the International Monetary Fund is estimating that Russia’s economy will “shrink by 8.5% this year. So, we have a scenario where everybody loses, except that the Russian people are somehow convinced through propaganda that the war needs to continue.
Mind you, I think they have lost the propaganda war outside of Russia in places like the Ukraine and, temporarily at least, much of Western Europe. Still, to continue the war, Putin only needs to win the propaganda war within their own country.