Free Republic

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,...

Acostly troop mobilization, plunging energy prices and a new round of Western sanctions threaten to bear down on Russia’s already embattled economy and undermine the financial underpinnings of President Vladimir Putin’s war in Ukraine. Russia's Mobilization and Plunging Oil Prices Weaken Putin's Economic Hand Russia's Mobilization and Plunging Oil Prices Weaken Putin's Economic Hand © ALEXEY MALGAVKO/REUTERS The economic storm clouds come as Mr. Putin orders more financial resources directed at the war in Ukraine. The Kremlin’s decision to call up more than 300,000 soldiers will require new funds to equip, train and pay the new reinforcements, analysts said. It...

Russian President Vladimir Putin can afford to cut off natural-gas exports to Europe thanks to ample revenues from other commodities, but such a move would come with longer-term risks for Russia’s sanctions-stricken economy and its prolific energy industry. Earlier this week, Moscow resumed gas supplies via the Nord Stream pipeline after annual maintenance ended, easing worries in Europe that Mr. Putin would further crimp exports at a time when the continent is filling up its storage ahead of winter. The restarted pipeline, however, is pumping at just 40% capacity, after a separate, still-unresolved technical issue that Moscow blames on Western...

Russia’s Push for Self-Sufficient Economy Fails Before Western Sanctions Building Fortress Russia was supposed to protect the country from sanctions. It is still highly dependent on imports. A Uniqlo store in Moscow this month. Sanctions have hit consumers who are used to getting imported products. Russia spent years trying to wean itself off imported goods to fortify its economy against Western sanctions. Now, the impact of sanctions imposed after Russia’s invasion of Ukraine has made it clear that Moscow’s efforts didn’t work. Russia’s continued dependence on imports means it is facing a painful economic readjustment. Parts of Russia’s auto industry...