Posted on 05/14/2024 4:23:32 PM PDT by MinorityRepublican
Over two years on from the invasion of Ukraine, Russia is the most sanctioned nation in the world. And yet the country’s economy is set to grow faster than any G7 democracy this year. How is this possible?
Back in 2022, Boris Johnson vowed to ‘squeeze Russia from the global economy piece by piece, day by day and week by week’. President Joe Biden promised that sanctions would ‘impose a severe cost on the Russian economy, both immediately and over time’.
Yet these dire warnings never materialised: Russia’s economy has proved resilient in the face of sanctions. Moscow’s flexibility in restructuring its trading relationships and domestic demand has allowed it to weather the storm. Since 2022, China has steadily replaced the European Union as Russia’s primary trading partner and tech supplier. At home, meanwhile, the increase in military spending has given a significant stimulus to the broader economy.
(Excerpt) Read more at spectator.co.uk ...
Because they’re drilling for oil on their own land!
Because most of the world isn’t sanctioning Russia, including some of the biggest national GDPs on the planet (China, India). I don’t know why anyone would think Latvia and Finland “sanctioning” Russia should have some big effect.
Replete with Natural Resources
And Russia’s natural resource exports go up in value during war.
Hmm this is a tough question!
oil $52/bbl no booming
oil $75/bbl tons of booming!
https://www.investing.com/rates-bonds/russia-government-bonds
Russian bonds are yielding almost 17%, if our bonds were yielding 17% would that be called booming? Can double check under Carter if one can’t remember.
Oil sales, arms sales, drugs and human trafficking.
All that growth in Russia’s economy, is going towards spending on the war. In fact, it’s not only the growth that is going towards the war, but whatever Russia had as an economy is also being diverted towards the war.
And remember that, Russia had a third-world economy before the war, and the spending on the war keeps it as a relatively poor economy. The growth is not benefiting the people, and only the military sees the benefits.
Perhaps it isn’t booming and the politicians are lying again. They seem to be fond of it.
The Western cap on Russian oil was never sustainable, plus China’s import capacity is starting to rebound.
It doesn’t matter how much bravado a guy like Boris Johnson was full of at the beginning of the war, the Western Coalition never had enough leverage over the Russian economy to fulfill their “red meat” rhetoric.
“It was always a fantasy.”
The thing to do was to drill for oil here in USA (and Canada) so we'll depress the price of oil so Putin will have less money to fund his war machine in Ukraine.
Instead, our leaders are "Climate Change" nuts.
“Because they’re drilling for oil on their own land!”
And Russia cannot keep up with American oil production.
Bojo the Clown, multi-year winner of The Clown World Award.
—> And remember that, Russia had a third-world economy before the war,
Fact check: just no
Interestingly,as Biden kept adding sanctions on Russia and Russians, their economy grew and ours became worse and worse. Americans suffered because of Biden’s sanctions on Russia. So much for sanctions on Russia.
When Trump placed sanctions on Iran, they worked and Iran was practically in foreclosure when Biden came into office immediately removing them, saving Iran and their nuclear bomb program.
Instead, our leaders are “Climate Change” nuts.
*****************
The green zealots grew in numbers as globalization gained steam, they could do whatever economic stupidity they wanted as foreign producers filled the void.
However, those days are over and a continuation of their insane warfare against energy producers will just produce more economic misery, moving forward.
Their political power should decrease over the next decade, as their economic fantasies crash against the “hard rocks” of reality.
Maybe they didn’t read the state department, EU, and Boris Johnson press releases?
sanctions -> make Russia far more self-reliant -> increase demand for Russian products & services
Russia: I offer Russian gas for $10 a barrel.
Britain: No!
India: I offer Russian gas for $12 a barrel.
Britain: It's a deal!
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