135
submitted 8 months ago by MicroWave@lemmy.world to c/world@lemmy.world

Russian President Vladimir Putin has taken to gloating about Russia’s resistance to international sanctions and its supposed economic resilience, despite the best efforts of the United States and its G7 partners to choke off Moscow’s oil revenues and starve it of military technology.

Scoffing at Europe’s economies, Putin said at a recent event: “We have growth, and they have decline… They all have problems through the roof, not even comparable to our problems.”

It’s true that, as the second anniversary of Russia’s full-scale invasion of Ukraine approaches, the Russian state is earning billions from oil and diamond exports, its military factories are working flat out, and many Russian banks can still access the international financial system.

Russia has adapted to the wide range of sanctions imposed by Western nations. Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion.

But the longer-term outlook is far less rosy. War is distorting the economy and sucking resources into military production at an unsustainable pace.

you are viewing a single comment's thread
view the rest of the comments
[-] AidenVennis@lemmy.world 21 points 8 months ago

EU might be hurting, but in the process it became independent of Russian oil but mostly gas exports. So yes, they may be better off now (and that’s a big maybe with the big propaganda engine running) but in the long run the EU is better off with investments in renewables paying off. I hope the EU won’t trust them with a penny after this and will keep the restrictions intact in the future.

this post was submitted on 29 Jan 2024
135 points (96.6% liked)

World News

38824 readers
2746 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS