Western sanctions aimed at pulling business out of Russia have had unintended consequences. Vladimir Putin has leveraged the exits of Western companies from Russia, turning it into a lucrative situation for his government, elites, and war efforts. The New York Times reported that the departure of Western companies has resulted in a $103 billion windfall for Moscow, while approximately $300 billion worth of Russian Central Bank assets remain frozen by G7 states. This has led to a significant reduction in Western banks' presence in Russia, akin to the levels during the collapse of the USSR, signaling a deteriorating financial relationship between Russia and the West.
The "currency curtain" is falling over Russia: Western banks have reduced their presence in Russia to the levels of the collapse of the USSR The financial bridges that Russia has been building with the West for three decades have been burned to the ground. The volume of Western… https://t.co/Erdhz5GM7D
The departure of Western companies from Russia has netted a $103BN windfall for Moscow, the New York Times claims. Meanwhile, around $300BN-worth of Russian Central Bank assets still remain frozen by G7 states. Follow us on Rumble: https://t.co/Nuc9nUzTc5 https://t.co/Lybd3sYSrR
⚡️Russian President Vladimir #Putin has been able to turn the departure of Western companies from the Russian market into a lucrative situation. If companies wish to exit Russia, Putin imposes conditions that benefit his government, elite, and his war efforts, the NYT reported. https://t.co/wJgBoSv2XB
Vladimir Putin has turned the exits of Western companies from Russia into an enrichment scheme. By dictating the terms of their departure, a New York Times investigation found, he has made a windfall for his government, Russia's elites and his war. https://t.co/TXn4lt4MjL
Vladimir Putin has turned the exits of Western companies from Russia into an enrichment scheme. By dictating the terms of their departure, a New York Times investigation found, he has made a windfall for his government, Russia's elites and his war. https://t.co/EeEKrswhYd
Western sanctions intended to pull business out of Russia and cripple Putin's power has had the opposite effect Putin has now overseen the largest wealth transfer in Russian history since the fall of the USSR by consolidating all assets in hands of his cronies https://t.co/V8Mfvin12h
The Urals oil price has fallen back from its peak in September, but it's still far above H1 '23 (red). This means Russia continues to rake in lots of cash, thanks to the EU, which refuses to prohibit Greek shipping oligarchs from selling their old oil tanker ships to Putin... https://t.co/QrnDyElptJ