The Russian economist warns that Vladimir Putin will not bow under the pressure of successive economic sanctions packages Vladislav Inozimtsev. Putin “doesn’t care about the economy” and has financial and budgetary reserves that allow him to prolong the war for “at least another two years.” That is why “the West does not need to impose sanctions, it needs to send tanks” and other war equipment to help Ukraine fight – “The only way to stop Putin is to defeat him on the battlefield“.
Inozemtsev, a professor at Lomonosov University in Moscow and director Think tank Russia’s economy is “holding up pretty well,” says the Center for Post-Industrial Studies and most people don’t feel the economic impact of war and sanctions – some are even earning more than before, given the exodus of qualified professionals. “To find a job in Moscow, in St. Petersburg, for many today is easier than before,” he says.
A year after the invasion – and dozens of sanctions packages later – how is Russia’s economy holding up?
I would say it holds up pretty well. And to understand why it is necessary to understand that the Russian economy is highly dependent on oil and natural gas, but above all it is financially vulnerable.
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