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Putin's War in Ukraine Fuels Income Rise for Russia
(www.newsweek.com)
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this post was submitted on 03 Jul 2024
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This is the best summary I could come up with:
Since the invasion of Ukraine in February 2022, the U.S. and its allies have subjected Russia to a comprehensive set of sanctions and embargoes, intended to both hamper its military and provide the economic squeeze necessary to push Putin towards withdrawal.
However, World Bank data comes from the statistics provided by member countries, and Russia has in the past been accused of fudging figures as part of its ongoing "information war" against the West.
Cuncliffe spoke to Newsweek about the World Bank's report and the potential dubiousness of Moscow's figures, saying: "Although economic data are always subject to revision, almost all the evidence now points to the fact that Western sanctions have been a miserable failure."
Last week, a report by a U.K. think tank argued that the country has been more than able to replenish its arsenal, and that sanctions had proven "manifestly ineffective" in curtailing the Russian war machine.
One of the paper's authors, Gary Somerville, told Newsweek that defense contractors were able to bypass embargoes, using "front companies" and backchannels to sneak military components into Russia.
If correct, the new data from the World Bank adds to the evidence that Putin is able to endure Western sanctions, and that his war in Ukraine only strengthens the country's economic might.
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