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| Caucasus/Russia/Central Asia |
| Russia braces for economic upheaval as sanctions start to bite |
| 2022-06-12 |
| [AFP] Authorities have stopped releasing key data, making it difficult to assess the impact of sanctions. But the few available economic indicators point to significant problems. Strict capital controls, high energy prices and a collapse in imports have led to a surge in the ruble, prompting Russia's central bank to slash its key rate last week in a bid to rein in the currency. And revenues from domestic value-added or sales tax collapsed by more than a half in April, VAT fees on imported goods dropping by a third compared to the same month in 2021. Read the rest at the link |
| Posted by:Matt |
| #4 ^ Hard to see it as anything but a practical response to the creation of a vacuum in the market space. |
| Posted by: M. Murcek 2022-06-12 13:13 |
| #3 "McDonald's abandoned its restaurants in Russia. They have now been taken over and run by the former managers and employees and are called "Tasty" 20 in Moscow have just opened and they plan to go nation wide. everything is on the menu because the suppliers were Russian. Only the big Mac and Flurry are missing on the menu. Coke is still there because there was a surplus but will run out in a month or two. They plan to replace Coke with regional favorites. Russia thanks you." |
| Posted by: Dale 2022-06-12 13:11 |
| #2 Given that too many of them cheated their way into office, Dale... |
| Posted by: trailing wife 2022-06-12 13:04 |
| #1 In this country we have just begun our long term recession. We might as well have elected terrorists to lead this country. |
| Posted by: Dale 2022-06-12 06:52 |