Posted on 08/06/2022 8:40:00 PM PDT by devere
Over the past six months, Russia has fortified its economic defenses after Western countries pummeled it with sanctions over its invasion of Ukraine.
Despite the crackdown, the Kremlin continues to rake in billions in oil and gas revenues, which helped the ruble rally to become the world’s best-performing currency this year.
But all is not well with the Russian economy.
The Western sanctions and widespread corporate exodus from Russia since Feb. 24 have ravaged the Russian economy—and its future prospects look even bleaker, according to a new report from Yale University researchers and economists led by Jeffrey Sonnenfeld, Yale School of Management professor and senior associate dean for leadership studies. It’s now become clear that the Kremlin’s “finances are in much, much more dire straits than conventionally understood” and that the large-scale “business retreats and sanctions are catastrophically crippling the Russian economy,” the researchers wrote.
As of Aug. 4, over 1,000 companies, including U.S. firms like Nike, IBM, and Bain consulting, have curtailed their operations in Russia. Though some businesses have stayed, the mass corporate exodus represents 40% of Russia’s GDP and reverses 30 years’ worth of foreign investment, says Yale report.
The international retreat is morphing into a larger crisis for the country: a collapse in foreign imports and investments.
Russia has descended into a technological crisis as a result of its isolation from the global economy. It’s having trouble securing critical technology and parts. “The domestic economy is largely reliant on imports across industries…with few exceptions,” says the report. Western export controls have largely halted the flow of imported technology from smartphones to data servers and networking equipment, straining its tech industry...
At the same time, Russia’s “domestic production has come to a complete standstill—with no capacity to replace lost businesses, products, and talent,” the Yale report said.
(Excerpt) Read more at finance.yahoo.com ...
Nah. They'll be like North Korea. But with a lot more resources.
You mean the USSR. But they have already been that once before.
The Ruble rally is also manipulated.
You can’t take dividends out of Russia anymore.
Russian exporters are required to convert at least half their proceeds into Rubles.
Foreigners can’t sell any investments in Russia.
I understand there are very few ruble currency transactions compared to prewar.
This story is pure garbage. Russia now has the strongest currency in the world and a great realignment is coming in Asia and Eurasia economically, the Dollar will lose it’s reserve status and that means all those dollars come back to the U.S. for more inflation.
The New Alliance of China, India, and Russia will leave us in their wake and we have Done this to ourselves.
You want to know what is really going on then read this guy, he is on top of it all:
https://thecradle.co/Profile/32
Yeah but it was ruled by the communist party back then. Now it's just Putin. In North Korea, by Kim's family.
I think Putin’s intent is to make Russia self-sufficient and protect itself from the globalists.
In principle, the idea is sound.
However, whether or not it can be made to work remains to be seen.
After years of breathless hype about Trump hooker pee-tapes, the Steele Dossier, Alex Vindman and Robert Mueller phony investigations - are there still fools out there who actually believe what US corporate media is telling you about Russia and Ukraine?
I hope china gets ridof xi and ccp
I hope ukraine gets rid of zelensky
I hope iran gets rid of ayatollahs and irgc
I hope US gets rid of socialists biden and suck machine and nanzi
I hope the norks get rid of the kims and commies
I hope south africa gets rid of socialists anc
As long as we are hoping for things
Cool! Now do China!
“After years of breathless hype about Trump hooker pee-tapes, the Steele Dossier, Alex Vindman and Robert Mueller phony investigations - are there still fools out there who actually believe what US corporate media is telling you about Russia and Ukraine?”
Have you not been reading the comments here? There are plenty of “freepers” buying that garbage. They must be giving up and listening to their liberal relatives.
Globalist garbage from Yahoo. You Sorosbots keep scraping the bottom of the barrel.
Trolls that should be riding the white lightning for spamming this website with globalist lies and propaganda.
that means all those dollars come back to the U.S. for more inflation.
- - - - - - -
If dollars from other countries go to the U.S., wouldn’t there be hyperinflation?
Russia could have done that at any time, long before invading Russia. Just ban all imports - although that necessarily means banning exports too. Of course, there are some very good reasons why that would have been stupid, as Russia is going to find out.
basically, russia is a gas station with nukes ...
“Though some businesses have stayed, the mass corporate exodus represents 40% of Russia’s GDP and reverses 30 years’ worth of foreign investment, says Yale report.”
LOL. Who counted? Did they count the capitalization of the outcoming businesses as a whole?:)
There is currently a fight between local and Chinese businesses for their assets. There is a lot of money to be made in substitution.
Maybe.
We will see.
I don’t support the Russian regime, but I do see Russians as largely innocent victims in this.
Assuming that Putin is being nationalistic and no other intent, he may have allowed globalism a foothold in order to learn from the West for economic development purposes.
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