Russians standing in long lines in Saratov today in an attempt to panic-buy sugar.
Via @visegrad24
https://twitter.com/AlexandruC4/status/1505198364811534339
I saw one estimate (no idea how credible) that perhaps 40 million Russians could be driven into poverty by the sanctions, in a matter of months.
But perhaps only the Oligarchs and State Security people matter in Russia anymore.
The ruble and the price of oil seem to have stabilized over the last week. The UAE said they would increase oil production, which stopped the surge in price - now hovering around $105/bbl.
Maybe China has helped stabilize the ruble (now around 105 to the dollar). There was a report of a surge of Chinese accounts in Russian banks. It is probably a wise time for them to buy Russian assets (and influence), at fire sale prices.
Lots of moving pieces and uncertainty moving forward...
I was somewhat vested in this conflict as my father was from Kiev. The Soviets wreaked havoc across the Union, fearing tribalism they often coercively mixed populations of religions and ethnicity. So Russian cultured Kiev is no more, as I have had contact with relatives and former residents. My father passed in the fall, I’m happy he didn’t have to see this. He never once referred to himself as Ukrainian, only Russian and his family had been in Kiev since the 1600’s, coming from both Poland, Russia and Germany. These people all assimilated as Russians. Kievan Rus is where Russia historically evolved.
Heres the thing, I do understand why Russia and the Russians hold Kiev sacrosanct to their historic mythos, but again... that Kiev is long gone. I do hope this conflict ends, and we go back to the norm detente.