“But sanctions?”
The article goes on to say:
“energy earnings only partly compensates for the damage from sanctions to the economy overall, analysts said.”
“The impact of sanctions on Russia’s economy is very uneven. In some sectors, it has been catastrophic, such as the car industry.”
“Besides autos, he cited IT and finance as two of the sectors worst hit.”
Oil revenues seem to have peaked in May or early June. Prices are down 25% since then. When they get down to the pre-COVID norm around $60, Russia will be totally hosed.
Natural gas exports are already in the disaster zone for them. Because of sanctions.
Russia sees 38% rise in energy export earnings this year
You have RDS -- Russian Derangement Syndrome. You hate Russia so much you don't care what a disaster the sanction war has been for this country and Europe or that tens of thousands of Ukrainians are dying fighting a proxy war, which it can't possibly win, in defense 'the liberal world order".
You and your ilk a menace to the country and the conservative movement. You and yours need to go the war of Liz Cheney.
Prices are down 25% since then.
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Volume is up. Besides the India sleight-of-hand, EU countries are buying from Russia. So is the US.
Sanctions are a mirage.
I don’t know about the IT sector, but there are plenty of Chinese and Indian developers, judging by the number in the US. Where are the chips & hardware produced? Not here.
Financials? With the BRICS adding countries weekly, the East Eurasia alliance, along with the Global South (can’t recall the title) is doing well setting up international trade, a parallel clearance system and the beginnings of a currency based on a basket of commodities. Those commodities are increasingly valuable. Nature abhors a vacuum and the degradation of the USA created one. Add to that the potato is granting other nations (China) lithium mining rights in the USA and then they can also export the product, refine and sell it abroad.
Joe’s handlers! Is there anything they can’t do?