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11/03/22
18:35
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Originally posted by AlCp
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"Sputnik" News says it all.......lol. Putin knew these sanctions were coming when he started the invasion but not this severe with numerous global big corporations withdrawing their business investments in Russia and these numbers will continue to increase the longer the invasion is happening with ever increasing condemnation, even China has been publicly calling this is a "war" a few days ago when they didn't 3 weeks ago.
These big companies have survive without doing business in Russia before the last 20 years since the consumers base is way larger globally compared to Russia where the distribution of wealth is very high between the middle and lower class anyway.
And how is the Russian economy's extremely "self sufficient"? Russia relies on exporting resources mainly natural gas to the EU but only a few small countries are 100% reliant on Russia and Germany and Italy using 50%. There will be short term pain as these countries source gas from other source and countries but the other resources can imported from elsewhere more easily and the EU's Reserve Bank can just print more money like they did during the pandemic to limit the impact of this high gas price until the market is more stable while they move away from Russia's gas, this is why the price is so high right now.
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Russia's exports will be permanently crippled. Other countries now realise the security risk the face trading with Russia under Putin and will steadily find alternatives. Russia can trade with China, North Korea, Libya, Syria, Iran and sell weapons to support wars and violence in Africa or the third world. Hardly going to be enough to make them wealthy or respectable.