You really have been fooled by the propaganda media.
The truth is: Russia's oil and gas ARE NOT being sanctioned by the EU and US's close allies at all.
And that is where Russia make most of its money - from oil and gas.
Even right now, its gas are sold to Ukraine and they are still paying transit fees to Ukrainian and Polish companies, to pump its gas onto Western Europe. Yes, EU are still buying oil and gas as of today.
Outside oil and gas, Russia's second most important money earner is military hardware and one of its biggest customer, India have NOT sanctioned Russia.
In fact, if not for the EU, US and her close allies, no other country or regions are sanctioning Russia: most of Asian countries have not, most of Central and South American countries have not and most of Africa and Middle East have not.
So your reference of the "Global market" is wrong.
In actuality, the imposition of sanctions now is similar to 2014 - the exception being the freezing of its $300B in forex reserves located overseas. Of course, this new strategy of freezing half of its forex reserves, will definitely hurt Russia - and as we saw, Russia's Reserve bank immediately raised interest rate to 20%.
No doubt, this will hurt Russian businesses and ordinary Russian. Whether this will prompt changes, its really too early to say.
In any case, Russia 2022 is NOT Russia 2014. In 2014, they rely mostly on EU and US markets.
In 2022, they are doing most of their businesses with Asia - in particular China, whose economy is almost twice what it was in 2014. Just last month, they signed a new $100B gas deal. And just last week, they signed a new coal, wheat and barley deals.
Asia as a whole is a bigger market than the EU or the US market.
In reality, countries representing nearly 6 billion people are NOT sanctioning Russia at all.
Whilst you might Not understand the geo-political situation of Russia versus Ukraine, leaders from countries representing 6 billion people do.
Expand
