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Report: The Russian economy is reeling under the influence of sanctions



Report: The Russian economy is reeling under the influence of sanctions

According to the Associated Press, the impact of Western sanctions on the Russian economy began most pronounced two months after Moscow occupied Ukraine.

As the West moved to cut off access to Russia’s foreign reserves, restrict technological imports and take control measures to isolate the Russian economy, the Kremlin began drastic measures to protect the economy, raising interest rates by 20 percent and keeping capital. Restrictions, and forcing Russian companies to send their profits to the ruble.

As a result of the actions of the Kremlin, the ruble recently recovered after collapsing at the start of the war, and last week changed part of the central bank’s interest rate hike, which Russian President Vladimir Putin was quoted as saying. Faced “Western aggression” from sanctions.

Michael Alexeev, a professor of economics at Indiana University, said: “The Russian government wants to paint a picture that things are not really that bad.

A closer look at the situation in Russia reveals that sanctions are killing the Russian economy, according to the Associated Press.

Russia’s official economic statistics agency, Rossstadt, says the country has suffered the worst inflation in two decades, reaching 17 percent, the highest level since 2002.

Several reports indicate that some Russian companies are being forced to close, while tank manufacturers are being forced to shut down production due to a shortage of spare parts, while US officials point to the impact of sanctions on the closure of car factories in Lada. .

The mayor of Moscow said the city expects to lose 200,000 jobs from foreign companies as more than 300 companies leave, international supply chains close and international carriers leave the Russian market.

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Russia faces a historic default in its securities, which could lock the country out of international credit markets for years to come.

U.S. Treasury officials and most economists have called for patience, saying it will take several months for sanctions to fully take effect, especially if Russia does not have access to revenue and spare parts, and more factories and companies are expected to close, prompting an increase in tariffs. Unemployment.

After Russia’s approval of Ukraine’s occupation of Crimea in 2014, it took almost a year for it to show signs of affecting its economic data, along with rising inflation, declining industrial production and a slowdown in economic growth.

David Feldman, a professor of economics, said: “Indicators to see if sanctions work are not yet easy to find.

New Russian measures to cover up the impact of Western sanctions

Russian officials have stopped releasing economic data on its banks, oil imports and loans in an attempt to cover up the impact of Western sanctions imposed on Moscow in response to its occupation of Ukraine.

There is little transparency about how sanctions will affect the Russian economy, especially in relation to the oil and gas sector, which is dependent on the European and Asian markets, due to the extraordinary efforts of the Kremlin.

Estimates from the Institute of International Finance and Economists Benjamin Helkenstock and Elena Rybakova estimate that the Russian economy could shrink by more than 20 percent if the European Union, the United States and Britain ban Russian oil and gas imports.

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The European Union agreed to ban Russia’s coal by August and discuss sanctions on oil, but there is no consensus on halting natural gas because European countries rely heavily on Russian supplies, and Russia’s revenues from Europe in exchange for oil and gas are about $ 850 million a day.

“Unknown target” .. Russian oil is finding its way to European markets

An “unknown target” is a new sign that Russian oil exports have been carrying to its customers in recent weeks in an effort to overcome the isolation facing global energy markets.

Russian news sites have reported in recent weeks that there have been several closures between major stores and shopping centers after Western companies and brands suspended their operations and withdrew from the Russian market.

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Officials reject claims of ‘crack in the wall’ of Western support for Ukraine



Officials reject claims of ‘crack in the wall’ of Western support for Ukraine

After Ukraine filed a complaint at the World Trade Organization against Hungary, Poland and Slovakia over a ban on its agricultural products, there were calls to freeze aid to Kiev, which is facing a war imposed by Russia. A year and a half.

All three countries expressed their anger at Ukraine’s move, with Polish Prime Minister Mateusz Morawiecki responding that “we can no longer transfer any weapons to Ukraine because we are now arming ourselves with the latest weapons.”

Some EU officials have warned that Russian President Vladimir Putin is “experiencing a new episode of Western antagonism” as Ukrainian forces make slow gains in their counteroffensive against Russian forces still in control of large swathes of eastern and southern Ukraine.

High military spending

From Washington to Warsaw, the military spending and capabilities needed to help Ukraine have sparked controversy, although Western officials have downplayed the prospect of divisions among Kiev’s supporters.

Polish President Andrzej Duda said: “I don’t believe that a political disagreement will lead to a collapse,” and his prime minister only pointed out that the newly ordered weapons were destined for his country.

For his part, Jack Sullivan, the national security adviser in US President Joe Biden’s administration, said on Thursday that he hoped “Poland will continue to support Ukraine”.

Ukrainian President Volodymyr Zelensky, on a short trip to Washington this week, sought to bolster US support for his country, which has been factored into the political campaign ahead of next year’s presidential election.

Former US President Donald Trump and his main Republican challenger, Florida Gov. Ron DeSantis, want the US to stop sending weapons to Ukraine, they say.

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Senator Joe Manchin, a Democrat from West Virginia, acknowledged after his meeting with Zelensky on Thursday that the amount of money spent on propping up Kiev was discussed, but he said, “But we are investing in democracy.”

Other GOP presidential candidates support Ukraine, including former Vice President Mike Pence, former South Carolina Gov. Nikki Haley and former New Jersey Gov. Chris Christie.

Lithuanian President Kitanas Nausėda, a key supporter of Ukraine against Russia, appealed to his counterparts in Ukraine and Poland to “resolve their differences” on the X platform, formerly known as Twitter. ,” and said his country was ready to “facilitate” dialogue between them.

“Polish-Ukrainian relations have become hostages of the Polish election campaign,” said Piotr Boras, a senior fellow at the Warsaw-based European Council on Foreign Relations, referring to the country’s parliamentary elections next month.

However, he cautioned that the damage caused by Morawiecki’s comments is still there.

“It does great harm to the Ukrainian issue because this story echoes and legitimizes voices in Europe (mainly from the right) that question the need to provide arms to Ukraine,” Boras told The Associated Press.

Slovakia’s two-term prime minister, Robert Fico, is a front-runner in parliamentary elections, backs Russia and has pledged to end Slovakia’s military and political support for Ukraine if elected in the September 30 election.

Nicolas Mazohar, a military analyst at the Center for Defense Studies at the Federal Institute of Technology in Zurich, said some political parties could play on nationalism to “favour voters” and avoid the idea of ​​”unfair solidarity”. Ukraine” at the expense of domestic interests.

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Emirates News Agency – Tomorrow… the conclusion of the European stages of the President’s Cup for Arabian horses in the Netherlands



Emirates News Agency – Tomorrow… the conclusion of the European stages of the President’s Cup for Arabian horses in the Netherlands

THE HAGUE, September 23 / WAM / His Highness’s European leg of the President’s Cup Series for Thoroughbred Arabian Horses will conclude tomorrow, Sunday, in The Hague, Kingdom of the Netherlands, by hosting the 11th leg on the “Dandocht” grass track. A precious trophy in its “30th” edition.
This prestigious cup racing series is held under the patronage and guidance of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidency of the United Arab Emirates and His Highness Sheikh Mansour Bin Zayed Al Nahyan, who has a keen interest in promoting the Arabian horse racing industry. Supports owners and breeders of Arabian horses in all countries of the world.
It is conducted based on the UAE’s abiding interest in preserving the Arabian horse journey, as it is a true legacy of the UAE’s national heritage and an extension of the approach of its late founder, Sheikh Zayed bin Sultan Al Nahyan, may God be pleased with him. Be kind to him.
Raced over a distance of 2,150 meters for horses 4 years of age and older, the President’s Cup Race for Arabian Horses testifies to a group representing the elite of Arabian horses, stalls and stables on the European continent. The third type.
The list of participating horses includes champions of expensive Cup races at previous stations and a group of stars from major Arabian horse races around the world, such as: the horse “Messi” (Dos x Jeanne d’Arc Pint Dorman) owned by Fido Keersmaekers. Supervised by trainer Timo Keersmaekers and led by jockey William Mungel and horse “Jarf” (Dahes).
There is the horse “Salva” (Galino x Ragia Pint Amer) owned by Vatnan Racing, overseen by trainer Alban de Miol and jockey Stephen Brooks, and “Alegio” (Nishane x Gibellina Pint Darvish) owned by owner and trainer Marion Falk. Weissmeier and Jackie Robin Haydns and “Picasso T.” (Maqadir x Baiba de pint Djendal) owned by SBM Horse Racing, jockey Stephen Haylen under the supervision of trainer Susan Postema and “Faridha Bey” (Al Haniyas) DA bint Majd Al Arab) owned and trained by Peter Dekkers and led by jockey Christoph Dehens, and “Babylon” T (Al Murtajaz x Beba de Pint Jandal) is owned and trained by Jotlef Gerard and ridden by jockey Kobi Vanderbeek.
Faisal Al-Rahmani, General Supervisor of the President’s Cup Series for Thoroughbred Arabian Horses, said: “With the conclusion of the European Stations in the Netherlands, we confirm the unprecedented success of the prestigious European racetracks in expensive Cup races.” After the “30th” edition was held in their respective countries, there is a great and shared interest with the United Arab Emirates in creating strong races for Arabian horses (France, Italy, Poland, Belgium, Sweden, etc.) to the highest levels. , Britain, Kazan, Russia and Germany), which embodies the prestigious status of the event and its long-standing leadership throughout its historical journey.
He added: These victories are due to the generous support of the beloved cup series and also reflect the pioneering role of Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the UAE. His keen interest in promoting the success of the Arabian horse racing process in the office of the President and globally.
Al-Rahmani stressed the importance and place of the Dutch station race in the agenda of expensive cup races, which succeeded in achieving important achievements at the level of encouraging owners and breeders to show interest in the Arabian horse. Its success, and the strong participation of elite European and Dutch Arabian horses, is witness to the race.

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Awad Mukhtar/ Sami Abdel Azim/ Mustafa Badr El-Din

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Libyan official: number of victims of cyclone “Daniel” rises to 3,753 in Derna



Libyan official: number of victims of cyclone “Daniel” rises to 3,753 in Derna

Muhammad al-Jarh, spokesman for the Libyan government’s Supreme Committee for Emergencies and Rapid Response, appointed by the parliament, announced that the number of victims of Hurricane “Daniel” rose to 3,753 deaths in the city of Derna after 168 bodies. Recently recovered.

At a press conference from the city of Shahad on Friday evening, Al-Zar indicated that a program for psychological care had been created in the storm-affected areas.

Al-Zar said a multi-person advisory committee would be formed to provide support to the Supreme Emergency Committee.

Talking about the issue of establishing an executive committee for the Terna City Council, the speaker emphasized that it will be the voice of the city during the next phase and will replace the sacked City Council.

He pointed out that the government appointed by the House of Representatives announced on Friday that a conference on the reconstruction of Terna will be held on the 10th of October, indicating that “modern and fast” ideas will be presented. For the reconstruction of Terna and other areas affected by “Daniel”.

It is noteworthy that since the disaster occurred on September 10, there have been conflicting reports about the number of people who died due to the flood.

The World Health Organization says 4,014 people have died and more than 8,500 are still missing.

“The scale of this disaster is staggering… and it is no exaggeration to say that rapid and coordinated action is needed,” said Dr. Ahmed Zuidan, WHO representative in Libya. We are working closely with our partners, national authorities and the international community to provide vital assistance.

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“Saving lives and restoring essential health services at this very difficult time.”

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