Despite Western predictions of Russia's economic collapse due to sanctions, the country has managed to circumvent them through increased exports to Asia and diplomatic efforts. Russia's trade redirection and oil sales to China have helped it withstand the impact of sanctions, with its reserves providing a fiscal safety net. The International Monetary Fund anticipates tough times ahead for Russia, likening its war economy to that of the Soviet Union.
Sanctions did not break Russia, but only strengthened its turn to the East Since the beginning of the Ukrainian conflict, the West began to actively use sanctions as a “critical tool” of pressure on Russia. In total, the United States and its allies have imposed over 28 thousand… https://t.co/ARC3JYtZx6
Michael Corbin: Russia has actively engaged in a wide array of diplomatic activities to save its economy from sanctions, ranging talks with India and Iran to efforts to expand BRICS and the Eurasian Economic Union (EEU) https://t.co/Lgsv8nLFRk
Michael Corbin: The data clearly underscores the momentous redirection in Russian trade flows in the two years since Russia’s invasion of Ukraine. This, above all, has allowed Moscow to avoid the expected 'crush' from sanctions. https://t.co/Lgsv8nLFRk
In 2023, Russia beat Saudi Arabia as China's top oil supplier, providing 107 million tons, equivalent to 2.1 million barrels per day. This transition was driven by Western oil bans, prompting Russia to pivot towards Eastern markets. China and India eagerly purchased Russian…
🔴 RUSSIAN URALS OIL PRICES RISE ABOVE $66, HOLDING ABOVE WESTERN PRICE CAP SINCE MID-JANUARY - CALCULATIONS SHOW.
They've been telling us since February 2022 that Russia's economy would collapse as a result of the war and Western sanctions. It hasn't happened. If anything, the Russians have learned that they can more than bear the cost of decoupling from the West. https://t.co/mw8bqsA9eI https://t.co/FoCSS9BrtA
⚠️ ANALYSIS-RUSSIA'S RESERVES DWINDLE, BUT FISCAL SAFETY NET COULD LAST YEARS (Reuters) Russia's war in Ukraine is draining state coffers, but the fiscal buffers Moscow has built up over the last two decades will be enough to last for years, even if oil prices slump as low as… https://t.co/N9XDR53hTF
Sanctions are usually too slow and too easily evaded to cause determined adversaries to alter their behavior, yet U.S. policymakers persist in applying them without bothering to consider if they will work, columnist @stephenwalt writes. https://t.co/4l55myVo9e
Kristalina Georgieva, International Monetary Fund Managing Director, is anticipating tough times ahead for Russia despite the IMF's own World Economic Outlook in January pointing to growth. Georgieva said Russia's war economy is now mirroring that of the Soviet Union. https://t.co/peNxO8RBDn
While Western sanctions intended to hamper Russia’s war effort and foment domestic economic and political instability, most have not achieved these objectives, writes Michael Corbin https://t.co/Lgsv8nLFRk
Moscow’s work-arounds to Western sanctions have the potential to disrupt the 'rules-based global order,' if not undermine it https://t.co/Lgsv8nLFRk
Russia not only did an end-run around sanctions but has been feeding an evolving alternative framework that "has the potential to disrupt the traditional 'rules-based global order' if not undermine it," writes Michael Corbin. https://t.co/Lgsv8nMdGS
NEW Michael Corbin breaks down, in detail, how Russia has thwarted Western plans to "crush" its economy following the 2022 invasion. https://t.co/Lgsv8nLFRk
Russias exports to Asia increased by 5.6% to $306.6B in 2023. This region’s share of Russian exports has increased significantly - from 49% in 2022 to 72% in 2023. (Reuters; UBN)
According to Reuters, the total volume of Russian exports decreased by 28.3% to $425.1B. The most noticeable drop was in European supplies, which was by 68% to $84.9B. (UBN) Western sanctions do bite, but they can bite much more. Slash Russia's oil revenues!
The West said it would 'crush' the Russian economy two years ago. NEW Michael Corbin on what really happened. https://t.co/Lgsv8nLFRk
Western predictions of Russia’s economic collapse have been let down by the facts - Op-ed by Henry Johnston https://t.co/3K3FWoZoYS https://t.co/Uxmbykmgoa
‘Two years of sanctions may have failed to bring Russia’s economy to its knees, but that does not mean they are not having an effect,’ writes the former Nato secretary-general https://t.co/carVGi8fVw https://t.co/dMsraQAhE7
Russia's economic decline is in only in the early stages, and the country is masking significant 'degradation,' think tank says https://t.co/ResyEL8HPB