“Putin’s Warped Wartime Economy, as Seen Through a Carton of Eggs”
“Egg inflation is latest symptom of painful trade-offs Moscow has made to fund its onslaught on Ukraine”
“For a microcosm of how the war in Ukraine has warped Russia’s economy, look no further than a carton of eggs.
The grocery staple has been in short supply in recent months and prices have skyrocketed, prompting Russians from Belgorod to Siberia to form lines reminiscent of Soviet times. President Vladimir Putin has publicly apologized, blaming the egg shock on the government. Last month, a poultry-farm boss known as “the Egg King” survived an assassination attempt shortly after authorities started investigating his farm due to high prices.
Behind the soaring price tag—up around 60% in December from a year earlier, according to data released Friday—is a convergence of factors symptomatic of the economy’s travails.”
“Remarkable Ukrainian success over the last few months: grain sea exports are closing in on pre-war levels. Four companies are providing insurance including at least one British one. Rates have dropped from 7% to 1.25% of cargo value”
https://twitter.com/DAlperovitch/status/1747812011411394561