Russia’s economy never recovered from being slapped with sanctions following the theft of Crimea. You can see that both in a dip in their nominal GDP and in a dip in the Big Mac index. As that page explains, a lower index value implies that McDonald’s is pricing their burgers lower to match what local people can pay. The ruble fell against the dollar, so the price of a Big Mac relative to a US dollar fell.
That’s utter nonsense as the article I linked above very clearly shows. If anything, the sanctions forced Russia to start developing its domestic industry making its economy far more robust than it was previously. Russia now also has an open alliance with China meaning that anything Russia can’t produce domestically can be sourced from China. Meanwhile, BRI is creating a huge economic bloc in Eurasia that Russia is an active member of.
I’m also not sure whom you’re claiming Crimea was stolen from given that people of Crimea are ethnically Russian and have overwhelmingly voted in favor of joining Russia after the 2014 coup. Once again, you don’t appear to care about people’s right for self determination in the slightest. It doesn’t matter to you what people who actually live in Crimea want, all you care about NATO’s geopolitical goals. Really telling on yourself there bud.
That’s utter nonsense as the article I linked above very clearly shows.
The article shows Russia’s currency sliding in value. It dipped sharply following the annexation of Crimea, began a recovery, and then dipped sharply with the pandemic. So yes, the sanctions absolutely hurt their economy.
If anything, the sanctions forced Russia to start developing its domestic industry making its economy far more robust than it was previously.
This is true, the sanctions did have that effect, at least regarding making it resilient to sanctions. This is an effect we’ve seen in other economies under a heavy sanctions regime (Cuba, Iran) where they’ve developed a more internally resilient economy at the cost of overall efficiency. All that said, there are plenty of levers that the West has left to pull. If Russian oligarchs start having their London real estate confiscated, you can bet words will be had with President Putin.
Russia’s economy never recovered from being slapped with sanctions following the theft of Crimea. You can see that both in a dip in their nominal GDP and in a dip in the Big Mac index. As that page explains, a lower index value implies that McDonald’s is pricing their burgers lower to match what local people can pay. The ruble fell against the dollar, so the price of a Big Mac relative to a US dollar fell.
That’s utter nonsense as the article I linked above very clearly shows. If anything, the sanctions forced Russia to start developing its domestic industry making its economy far more robust than it was previously. Russia now also has an open alliance with China meaning that anything Russia can’t produce domestically can be sourced from China. Meanwhile, BRI is creating a huge economic bloc in Eurasia that Russia is an active member of.
I’m also not sure whom you’re claiming Crimea was stolen from given that people of Crimea are ethnically Russian and have overwhelmingly voted in favor of joining Russia after the 2014 coup. Once again, you don’t appear to care about people’s right for self determination in the slightest. It doesn’t matter to you what people who actually live in Crimea want, all you care about NATO’s geopolitical goals. Really telling on yourself there bud.
The article shows Russia’s currency sliding in value. It dipped sharply following the annexation of Crimea, began a recovery, and then dipped sharply with the pandemic. So yes, the sanctions absolutely hurt their economy.
This is true, the sanctions did have that effect, at least regarding making it resilient to sanctions. This is an effect we’ve seen in other economies under a heavy sanctions regime (Cuba, Iran) where they’ve developed a more internally resilient economy at the cost of overall efficiency. All that said, there are plenty of levers that the West has left to pull. If Russian oligarchs start having their London real estate confiscated, you can bet words will be had with President Putin.