Professor breaks down economic turmoil in Russia
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- Опубликовано: 16 авг 2023
- How will a crashing Ruble and rising inflation hamper Putin's war effort? CNN's Bianna Golodryga speaks to Russian economist Sergei Guriev on the current state of the economy and its potential implications for the global market.#CNN #News
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Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.
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@lowcostfresh2266 It's best you do your due diligence, I have my portfolio overseen by “Laurel Dell Sroufe” and her qualifications speak for itself. Most likely, the internet is where to find basic info, she has a noticeable page for consulting.
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Does anyone take seriously the "official" numbers Russian government gives?
Those inside Russia who don't, get defenestrated.
Why are you worried about that?
Do you trust numbers from any government?
Oh that's so easy. Always believe the opposite of what they are saying
There's a big butt here ...😂
Rubles turn to rubble 😂
Ruble rubble
May he be crushed under the weight of every plant,animal, and person effected by the war.
😂
Ruble turns to rubble while Russia just surpassed Germany to rank 5th in the world in GDP in PPP and is now the largest economy in Europe, this after 11 rounds of sanctions. 😮😮😮
@@williamalexander9485We heard your lie the first time, Boris.
Russia saying everything is going great economically has that "I got diarrhea for four days, but I lost five pounds" energy.
😂😂😂
Big thanks to prof. Guriev for your work!
Repating what has been said since invasion but not happening? thanks parrot
Why not provide a run-down of the major corporations that continue to do business in Russia, (like Shell and Unilever)? Can't name any of them?
1 ruble = 1 penny. Unending war in Ukraine. One brave Russian can end all this misery.
No, $1 is not even accepted by Russia.
Russia dose not trade the dollar ever since the US stole billions from its IMF investment.
US stole venezuela the same way.
This is why the world is dropping trade with the dollar and going to BRICS.
Or one grieving Babushka who has lost her precious only son. Give the lady a pistola and a train fare to the Kremlin !
Oil revenues = price x volume. If russia is increasing oil prices by decreasing output volume, who cares. Their revenues are still down by 50% and their natural gas revenues are almost completely gone. The same kinda thing is true for their gdp. It doesnt matter if their gdp is flat, what matters is they are now wasting all their govt spending on tanks which just get destroyed in ukraine rather than spending it on infrastructure or education that is an investment in the future. Because of the freefall of the ruble, they had to raise interest rates to 12% which means no businesses can finance expansions and new businesses cant get started. None of this was ever going to be a quick fix, but it is going to destroy the russian economy for decades, especially if all the educated men who fled mobilization never return.. almost 2% of russias workforce is hiding overseas, and they are the most educated
Truth. Sad to see murdered Ukrainians but to know russia's expensive tanks and jets end up in pieces is crazy. .
🤡😂😂😂
👌
Not only Economy, the Russian regime needs to be annihilated just like what happened to Soviet Union
Very well said,
Absolutely anyone with a brain and the means to leave Russia have . If they stayed they have the means but they are just submissive idol worshippers.
Before the invasion of Ukraine Russia was a small economy, and a bit of a economic basket-case. It only survived by natural resource export. I can't imagine that it has improved with all the structural problems being put under stress.
We wanted oil of Russia and no that's it
It was a gas station, now it’s potato 🥔
@ian. Let’s continue sacrificing Ukrainian soldiers till 2024 election. The disastrous blundering of US intel has to be blocked from the voter till them. Evil ? Is this beyond reprehensible? Obviously.. yes .
@@KodakcompactdiscThat’s why it’s better than the UK
Russia has not got the trillions of debt like the US. The biggest collapse in living standards are in the west.
Central Bank runs MONETARY policy. Not fiscal policy. Big difference.
The Ruble is gold backed, the paper dollar isnt.
US is technically the brokest country in the world & thats not including its massive trade deficits.
I know they are different. But can you explain the difference between monetary and fiscal policy😊
@johnphilipalones: Fiscal policy refers to the tax and spending policies of the central government. Monetary policy is executed by a country's central bank through changing reserve requirements, changes to its discount rate, etc.
Further the government runs fiscal policy and often it is politically driven and rarely in phase with the economic cycles. Monetary policy is run by the central bank and usually is focused on controlling inflation rather than driving growth.
The ruble is still falling 😱
A wartime economy in a country that won’t acknowledge its war and is determined to show that the shops are overflowing with affordable goods.
Russian shops are overflowing with affordable goods. That's true 😉
@@user-jx9lp1jc7j quality affordable goods?
Well, a gallon of gas in Russia is only about .50 U.S.
@@knowledgeishalfthebattle so around 50 rubles?
@@o0Silverwolf0o
From what I saw for a gallon of gas in Russia it works out to be about $2.50 a gallon U.S. .
Where I live in north Texas it works out to about $3.49 per gallon U.S. .
This is gallons, and not liters.
The funny thing about this entire analysis is that Russian economic data is based on information coming from Russian economist. This data should be taken with a titanic size grain of salt.
Wouldn't a "Titanic" grain of salt be fairly large? 🤔🙃
He is not "Russian econonomist" in sence CNN pushing it - guy the immigrant. Live in France for decade.
Just another CNN "expert" with "russian" sticker on it. 😂
This guy is an opposition figure who is a notable economist who lives and works in Paris.
@@LouigiVerona Notable economist doesn't need to switch to politic to make career :)
And his allegation with Ucos tells you everithing you need to know what he actually were into and why he fled.
@@delta_glider4362 He is a professor of economics and provost at The Paris Institute of Political Studies. I mean, I am not telling you to believe blindly what he says, but the guy was always in the opposition to the Kremlin and fled Russia because it was dangerous for him to stay.
Beautiful
Great interview! You asked all the ?’s I had, thank you
Good interview
Not all ships sinks at the same pace.
We all are passengers on the 'Titanic".
Any Cold Warrior knew that if and when this Russian Aggression began, we were prepared for a long, hard struggle lasting perhaps a decade to Fight Fascism.
America in particular has internal battle against domestic fascism simultaneously.
“Warriors” 😂😂😂
I’d rather say sh.tbags 🤷♂️
3/12 cav. 72-74.
100
unfortunately this war will destroy all world order and all countries will suffer including America and Russia, but in the end, new and improved order should arise.
@@blohnot that's called a difference in opinion. seen from the rest of the world (say Africa and South America), the USA are the sh*tbags
Great to listen to two intelligent knowledgeable people.Eric 77 years old in England.
Russian oil and gas infrastructure is dependent on equiptment and technology from the US and other NATO countries. At some point this eqiptement will need spare parts, and, uless they can find another source, it will make for slowdown in production.
True but im pretty sure the parts can be reverse engineered.
@@AZIFMIKAYREnot that easy at all
@@olasek7972that's what china does best
Wrong, Russia is the world leader in precious metals production & they have much better technology then the west as Ukraine constant defeat shows.
Great news
Can we stop talking about the ruble crashing? The ruble did not crash it was a special military collision
Special monetary advancement
“It was special operation collision” (said in Russian accent)
also, it doesn't matter. a kg of carrots is 20 RUB, or 0.20 USD there... meanwhile it costs like 4 USD over here...
@@AmauryJacquot Their average (median) salary is about 400 USD. Stop whining about your salary.
Or you'd take 400$ just to pay 20c a carrot?
@@ArtisZ the mean salary in fr is 1800€ with carrots sold for 3 to 4€ a kg... you do the maths
The smart Russian trolls don't take rubles anymore.
CNN: do want Ukraine or Russia to win this war?
Trump: I want everybody to stop dying and I'll have it done in 24hrs!
🐑Sheep: I want Ukraine to win.
@@JOKER-bl4rd ruSSians: "I don't have enough money to buy a loaf of bread."
They certainly don't take good advice either.
@@JOKER-bl4rd
@@stuartx7865 In Russia, a loaf of bread costs 30-50 cents.🙂
Russia is paying a hefty price for the "Special Operation" which was expected to be brief. This was a gross miscalculation often made by countries of one man rule, where the ministers and advisors are either afraid to give a sound advice to the president, or , simply, they just dont know, as they were appointed just for being loyal to him, not due to thier merit.
Kind of like the Trump administration.
yes prigo told the truth about the lies for the invasion.....stay strong Ukraine!!!
@@annakingry9157 Yes, Mam, I am not sure if Putin is a role model for Trump, but I am positive he admires him a lot, due to the absence of the intellectual dimension and depth in Trump's way of thinking.
it is about underestimation and overestimation. It's very alpha and not necessarily one man rule: Vietnam, Iraq and Afghanistan (for both Russia and the US in case of the latter) weren't that different. Staying there for 20 years had to do with not wanting to lose face, Putin is doing something similar now. Seeing reality is harder than picking a fight and just keep swinging. The anger denial bargaining depression acceptance bit. It's emotional denial. Everybody safe for Jebus and Mahatma seems to suffer from that. Desire...
Just look at China. They'll stop publishing statistics about their unemployment rate because of how bad it looks for them. They penalized and censored people early during the covid outbreak. The USSR did the same during the Chernobyl nuclear meltdown. Russia is likely not any different when it comes to providing data about themselves. They lie all the time. Can't even admit they're in a war that they declared. Saying that is a crime there.
All oil related infrastructure that isn’t used is getting frozen in the ground. The contraction is occurring with the crap infrastructure as well. Unpleasant.
Superb, interviewer, and interviewee
@alexhumble7653This I can believe. Cnn is fake news.
The economy is growing thanks to military factories working day and night? Producing stuff that just gets blown up? That's like saying unemployment is at an all time low thanks to two major schemes: employing millions of people to dig holes and then millions more to fill them in again.
Phillip.
Compare the growth of Western economies growing solely by printing money against unsecured loans.
The military industry is a real industry, resources, energy, people.
In fact, the speed with which Russia is rearming is frightening.
The West has indeed awakened the bear.
If we are lucky, then we will face a difficult cold war, if not, then a fast and very hot one.
@@michael-muller Western economies were not growing that way at all. They printed money during the pandemic lock downs, not the same thing.
The military industry is important in countries as they make a lot of money exporting those arms. This is not what ruzzia is doing. In fact their arms sales have collapsed as the world has seen how ineffective they are.
I defenitely don't think frightening is a word we can use with ruzzia any more.
Phillip.
@@philliptemple9841 About printing money
You need to first look at the size of the US and EU budget deficits, and then look at how they close. After last year, virtually no one other than Western countries is buying US debt anymore. They make loans to themselves, which leads to huge global inflation.
No matter how Ukraine convinces us of the inefficiency of Russian weapons, its successes based on these weapons were much more convincing than the current ones based on NATO technology. As far as I know, Russia has a huge queue for new proven weapons.
And at the expense of the lack of intimidation or fear of Russia - this is something clinical. Many people will not agree with you, for example, NATO is afraid to directly enter into conflict with Russia, but at the same time it encourages Ukrainians to go into meat grinders.
Moreover, it is very clear that NATO is completely changing its strategies and launching a complete rearmament. Since it is not ready for opponents of the level of Russia.
You are a typical Ukrainian bot, you are betrayed by them ZZ, as a rule they always lie, swear their hatred for Russia and tell Narnian tales about the successes of the Narnian offensives)
just like the US then... what do you think the purpose of the $1T military budget is ?
@@AmauryJacquot The US is a real country, not a tinpot dictatorship like ruzzia. It's GDP is $24tn so $1tn is less than 5%, of which it gets back $200bn in arms exports.
After seeing ruzzia arms are junk, and their arms sales plummeting 2/3 in one year, the US will be getting a LOT of new customers.
Phillip.
Russia can say what it likes as nonone can check the actual economic facts.
No Riots, no Panic buying, and recently they just conducted Rocket launch to the moon, you think a "struggling" country can still aford to do these things? 😂
@@Mr.Clownensky Yes. Ever heard of North Korea?
@@ccampbell10113 unlike NK, Russians are still allowed to broadcast their lives around the planet by vlogging , why until now I cant see any vlogs of Russians covering poverty, suffering, hunger, etc in their country? Like how the west viewing their lives now? 🤡
@@Mr.Clownensky NO money no Panic🤣RuZZki MIR, aber Vodka is cheap
@DegenerateWesternCulture It's smoke and mirrors. Sending an unmanned rocket to the Moon is an act of desperation for Putti.
Laugh On, Putin Bot/Troll, Silly Clown, Vlad is a loser and so are you!😂
Starting a war is lousy economic policy. 💀
You said something about the Russian gas sales. The Russian government has said themselves that sales in Russia has fallen 30 percent so I don't think that the Russian economy is going to do anything but implode.
With their $33 trillion dollar debt the writing is on the wall ... doh!
@@rvllctt871 Hard to go into debt when your currency isn't trusted to remain stable...
live in Russia, I .... our government, great country, great resourses but most people are poor, the salary is about 200 dollars per month (work 5 days a week, 8 hours a day) for example in kindergarten is Ok. If Putin wins election in 2024, I will be crazy
I think we can be absolutely sure Putin wins any election as long as he wishes to be elected. He is hugely popular with the majority of the Russians - which is actually scary
Да, как жить хз вообще. Отцу сказал, что мне бы не хотелось жить, как большинство живёт.
@@godofdeath8785 работать не пробовал?
haha given large crowds of mom's cars waiting to pick up their kids from school each day, I'd not say everyone is poor here. Some cars are very good. I come from a normal, provincial place. As for 200 dollars, there are such vacancies but it's definitely not a standard by default, including provinces :)
This is not an economic meltdown but a special financial downturn!
Bianna sounds so lovely when she switches to my native language to pronounce Guriev's name and last name :)
The fact that it all started happening just now, a 1.5 years since the start of the war, just shows how badly those sanctions were designed. It is time to take stock, and correct the problems?
Its time to identify the business that say they “left” Russia. We need that information as consumers.
I Googled 'businesses still in russia' and clicked on an article by Yale school of Management called *"Over 1,000 Companies Have Curtailed Operations in Russia -- But Some Remain"*
There are web sites for that purpose, Google it.
Lots businesses have left officially but still work. KFC recently got renamed to Rostick's but that's it. Samsung officially do not sell phones but still import from Armenia and sell them because they "do not want to lose the market". Many auto manufacturers actually left and you know what happened? Chinese brands now conquer the market and lots of people will refuse to buy the brands that left when they return. They shot they own foot.
@@1Know1tHurts Return? We’re talking about businesses that have not left and only lied about it. They changed their local brand name or are just working through different distributors. Don't pretend that these companies won't be fine without returning to Russia or it wouldnt be worse if they were ostracized by the rest of world. Especially their home countries. The current issue is that everyone can't identify those asshats. These companies have a lot more entities to worry about. You think that the war can just stop or Putin leaving will be the reason everyone accepts businesses returning to Russia. BS. Be realistic. It's easier to stop than it’ll be to start back up. People are delusional if they think the sanctions aren't working bc it’s about the long game. The ruble has become worthless outside of the country and the economy is on a continuous spiral down. No matter how many videos people post of “normal” life in the bigger cities.
Damn... Im not sure what this news piece was all about but Brianna Golodryga has the most stunning eyes! Literally knocked me out.
Russia bookkeeping is spectacular. 😂
Charlie Sheen 2011: Winning!
Putin 2023: Winning!
Bring on more profs please they literally are paid to teach people about niche topics
*SOMEONE ON THE INTERNET LITERALLY DID THE MATH AFTER THE RUBLE COLLAPSED. 1 RUBLE IS WORTH LESS THAN A SINGLE SHEET OF TOILET PAPER.* 😂
😂🤣
Russian economy expected to grow? Who in their right mind would believe Russian economic statistics?
Well I’m a little skeptical about both sides. Clearly Ukraine is not winning any ground and we keep hearing how well their doing.
chinas economic contraction could be directly related to russias economic expansion.
Leaning/sliding scale with a zero centre
means while the prop each other up and share gains
in between all that is a centre leaning a rug with everything swept under it
essentially on borrowed time
with.
economic sharing thats essentially economic balancing rather then actual shared gaining.
Right before he speaks, she says, with a straight face, “there’s a big butt here“. The childish side of me got a giggle out of that.
As biden said it's all down to one man Rasputin.......if Russia wants a normal economy and prosperity and quality of life.
They will never never have it with Rasputin
The Ruble is gold backed , the paper dollar isnt.
Nothing about the dollar is trustworthy or valuable.
The US is a total crack head on a credit card that yet to hit its limit.
...and thats not including its massive trade deficit that it owes to the world.
They have the the 5th ranked economy based on GDP in PPP and are the largest economy in Europe. Biden knows
Solid piece of reporting. Really does show how dependent Russia is on the world. I would have thought the opposite prior to this war.
40% of the goverment revenue came from oil and gas a few years ago. The war had to be done now or never with all European countries moving to a electrified fleet and renewable energy grid.
I hate to say this but we are also dependent on Russia. Read my comment above about neon that is essential to create lasers that are required to make computer chips, and that is just one gas. There are also links to two articles that discuss how this war is impacting the cost of technology as Russia refuses to export gases to hostile nations that are essential to technology.
Fact:Russia became $600 billion wealthier diring the war, US lost $5.9 trillion, EU lost $6trillion. Source: Business Insider. Russia surpassed Germany in economy in PPP terms. So yes, sanctions are effective against the west😍
You know NATO need Russia gas if NATO don't get Russia gas prices will go up everyday
Depend on the world, NOT nato or usa.
Tell them boys with the laundry on their head that it's wash day and we're bringing the Maytag
they better call in donny's loans!
Putin must be using US Dollars to pay for his lunch at the moment
Probably gold.
Us dollar is Monopoly money. Just wait in a few years
@@diegomorata2885 life is just one big monopoly game. Gold is just a yellow metal.
@@diegomorata2885 Its the reserve currency of the whole world for a reason.
@@davidwolf8991 it is backed by usa guns and missiles
I enjoyed this excellent piece of journalism. Thank you also for the educational regarding this terrible war criminal.
ignorant
You can't buy a Rolex with rupies lol
Such a massive miscalculation from that putin guy.
I love it. Russia GDP includes tanks that get blown up in Ukraine.
Tanks vs Grenade Drone Pilot
Russia 's GDP grew in 2022 and Russia became the fifth economy in the world according to the World Bank and the first in Europe .According to the data, the Russian economy is showing growth in 2023 and it has just a little bit left to overtake Japan.
@@dark_master_Makei Wow, I'm sure that's a great comfort to the people of Russia that on the TV it says they're doing great.
@@dark_master_MakeiRussia isn’t even in the top 10 of largest economies in the world, lol. A simple google search proved your statement to be false. Orc intelligence is criminally low.
so does the US GDP... where do you think that $1T military budget goes ?
Good take
Excellent guest.
RS. Canada
The bill for invasion grows daily. Good explanation, Guriev
Trump is probably losing a lot of money he had invested there 😂😂😂.... king of bankruptcy 😅
He didn’t invest money he borrowed money. A man (strong like bull) will soon call on Trump to collect.
Wtfs trump got do with this video?
You cnn fools never fail to show your ignorance & lies
Losing biggly!
Possibly the greatest, biggliest loss ever, in the history of the world...
In all the charges & accusations against Trump , I don't recall him having any investments in Russia . If you could outline them , I'd be grateful . He could not even get a single hotel / apartments built in Moscow's massive rejuvenation project 2012 -2020 unlike every other hotel chain .
Imagine creating an account just so you can post about Trump in every comment Lmao
Rent free🤡
You wrong on Prigozhin. There was NO shell deficit. It was his speculation to attention.
Why did slapstick & mime get cancelled? 😂
❤Ukrainian ❤
But Russia still getting western micro chips and other western materials to produce new missiles … recently Ukrainian defence expert release there statement that … the recent miss attacks in Ukraine where they found the parts used on that missile where lots of wester material used on that ..
Unfortunately the down side of Globalisation
The Ruble has turned to rubble.
Russia ranked fourth in terms of real GDP growth in the world. At the end of the second quarter, the annual figure increased by almost five percent. The first three places are in India, China and Indonesia.
The USA is in ninth place. Germany and France did not even make it into the top ten.
Thank youMr. President
I voted for you and I'm glad I did. I am really thankful you've finally agreed to send the F16 to Ukraine. Expect my vote again.❤
Full of u u ar not ashamed of ur self. U wan people to die in Ukraine
To fight a war you need metal , cerals and fuel ⛽ Russia has them all . They can fight for a long time
We need somebody to break down the economic turmoil in America, before we all end up homeless,and on the streets! Russia’s economy is doing way better than ours.
GOOD NEWS FOR THE FREE DEMOCRATIC WORLD!
It’s about time for NATO countries to start sanctioning Chinese companies supplying Russia with chips and military equipment.
A pointless war creating budget issues.... YEAH 👍
Putin and Lvova-Belova to the Hague.
"if he continues to sell HIS oil and gas all over the world" - This conversation conveniently points out how putin is treating russia as his personal property. The average russian's living standard doesn't matter. Many already grew up in poverty, so they are used to empty shelves, ru is just coming full circle back to living 'happily' under oppresion.
Which empty shelves? Which poverty in Russia 😂? Are you sane or confuse with the us?
If you want to see the prosperity of Russia go to Russia,Russians are not slaves of corporates like Americans
The shelves are not empty. I visit RU many times a year!
@@a.brekkan4965 You should join the Russian army and get a permanent holiday six feet under the ground. 😂
You don’t know what you’re talking about. Russian GDP in PPP is the 5th largest in the world and Russia is the largest economy in Europe. PPP takes living standards into account. All of this post 11 rounds of sanctions.
He didnt know the actual reason at the time that caused the stir.
"Resources, hatred."
He hates it, but "people think it's needed"
What about in the U.S ? Nobody mention all the people losing thier jobs maybe even home plus the highest rate of credit card debt
Because with about 3% unemployment rate people aren't losing their jobs.
Researchers monitoring pollution in Russia have shown that has dropped about 20% .. That is not because Putin's oligarchy has suddenly decided to favour cleanliness over profit .. It is because productivity has fallen. So Putin has more eggs in one basket selling oil to increasingly few countries. The businessmen in those countries need a reminder of the principles of the Nuremburg trials.
Russia is increasingly becoming a vassel state of China.
@@alexhumble7653 Thank you comrade Russian government propaganda worker.
@@alexhumble7653 Nothing you are saying makes any sense. 😂
@@alexhumble7653 Google it.
Who are you kidding Alex? The errors in your English language speech betray your non-American origin. We all know you are a Russian troll. @@alexhumble7653
Good to know that Russia has their own Jeffrey Sachs🤣🤣🤣
Yes, some deluded Westerners on the far right and far left actually support Russia. Sachs is one of them.
Couldn't have happened to a nicer country.
I wonder, do the other countries give that much air to our interest raises?
CNN “news” this said everything.
If you believe Russia's published GDP numbers then I have some swampland in Florida you might be interested in buying.
Military chips from China, other countries buying Russian oil and other countries supporting russia mitigated many of the severe effects from the sanctions.
If Russia was left on its own with little support, sanctions likely would've had a better impact on them.
And some traitor countries that import from the West and sell to the Orcs. We will not forget them after the war.
A lot of Russians have turned against Pootin...
So what, what was going on 17 months ago, what about 24 months ago, I mean how could they be hurting if it's only as low at was a year ago?
Totally makes sense. Rouble has recently fallen at an all time low that's why Russia is projected to increase its economy in the coming years. Oh yeah those media outlets or one of their writers aren't receiving money from Russia. You have to believe it, says so by honest to goodness Sergey Lavrov.
Making sense of Russian economy is a total contradiction.
No Riots, no Panic buying, and recently they just conducted Rocket launch to the moon, you think a "struggling" country can still aford to do these things? 😂
@@Mr.Clownensky How can people panic buy when they haven't got enough money for basic necessities? Rocket launch was planned and paid for years and years ago. The army has rioted mutinied a couple of times. How can you really be sure what's going on when putin totally controls the media?
Rioters are jailed, there's no money for panic buying and a corrupt oligarch owns a rocket company, the usual for Russia@@Mr.Clownensky
@@Mr.Clownenskygive it time, inflation just started there
don't worry.
just like here, tsar vlad the intriguer/invader and his rich "friends" will be just fine.
and that's what's important, right?
yes. I am holding up a sign saying "sarcasm".
i dont think they will be fine.
Their wellbeing is directly proportional to the outcome of their war.
And when russia can no longer sustain that war ( that they themselves have started ) they WILL have to withdraw…
Then the real sh1tstorm INSIDE russia will start…
As ALL of russia’s socio-political and cultural landscape will be absolutely divided an against each other…
They WILL all be asking questions: how, why and WHO…
And they all know the answers…
They will just need to accept it
the sound is almost inaudible
Once Ukraine hits another couple of Orc ships in the black sea, the ruble will slide and slide - Slava Ukraine 💛💙
We've worked off of Russia's released numbers and things look great over there lol.
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The price of oil to go much below 50 would not be wise , because it’s not viable for all producers to pump oil and distribute at such low figures !
G7 does not set the price of oil.
The crashing Ruble and rising inflation are likely to hamper Putin's war effort in a number of ways.
The Ruble's collapse will make it more difficult for Russia to import goods and services, which it needs to sustain its war effort. Russia is a major importer of food, energy, and other essential goods. The Ruble's collapse will make it more expensive for Russia to buy these goods, which could lead to shortages and disruptions.
The Ruble's collapse and rising inflation could also lead to a recession in Russia. This would further weaken the Russian economy and make it more difficult for Putin to finance his war effort.
"Russia major importer of food and energy." It's insane! Russia is the biggest exporter of these commodities. It's just outrageous lie.
@@vicdor1031 You're right, Russia is a major exporter of food and energy. In 2021, Russia was the world's largest exporter of wheat and sunflower oil, and the second-largest exporter of crude oil and natural gas.
These "experts" have one common characteristic. They explain the theory very fine, but when asked about facts their answer is always: "We don't really know" and going back to the theory.
They are experts, they aren't omniscient. How are they supposed to draw exact conclusions from doctored data supplied by Russia?
They know they are operating on doctored data and spin this data in the way they like. @@calebmauer1751
@@calebmauer1751Yeah - CNN experts. Screw facts - push narrative
Economies can grow during wars, often that's the whole point in going to war.
Nice intro with the 11-dollar bills 😉
The sanctions don’t have an immediate effect. Putin has been readying the country for this invasion for years and undoubtedly had a lot of money and resources saved up. But those resources are likely drying up and replenishing them will be more difficult with the sanctions in place.
Russia dose not accpt the dollar ever since US stole its billions in IMF investments just like they did to Venezuela.
Sanctions on the dirty worthless paper dollar is why the world is moving to global trade on the BRICS system who doesn't accept the dollar for trade.
Most of Russian money is seized up in western countries.
the territorry of the russian federation is way larger than the US, and they have all the minerals required to build anything they want. also, unlike the US, they haven't shipped all their factories in china. I know you can figure this out...
@@AmauryJacquot they certainly cannot build whatever they want
@@NomadJoe0323 hold their beer 🤣
0:54: 📉 The Russian ruble has fallen to a 17-month low against the dollar, prompting the central bank to raise interest rates by 3.5% in an attempt to stabilize the currency.
3:42: 🛢 Russia and Saudi Arabia are accused of tightening oil supplies to increase prices, but the strategy seems to be working.
7:17: 🌍 The impact of sanctions on Putin's war efforts and the importance of China's support in Russia's economic stability.
11:05: 📉 The Russian economy is experiencing instability due to sanctions and a weakening ruble.
Recap by Tammy AI
All Correct, except the oil prices were not impacted by tight supllies. The price of oil will perhapes not go above 100 USD again because Europe has made a strategic decision to turn to clean energy.
To the point about "What's he going to do with all those Rupees and Yuan?" Buy stuff from India and China, right? Also, with the Ruble cratering, wouldn't a big pile of foreign currency be one of the best assets he could have? Not sure I see the problem.
What about sanctions?
Didn't Russia just finished their BRICS meeting, that opened up more trade with south America, Africa, India, China an the middle east.
Russia wasn't invited
BRICS is dead China economy imploding ruble is almost worth a single sheet of toilet paper now
even if they wanted to there are sanctions on Russia currently so going to be very hard to get those trade going.
BRICS is totally useless!
@@jockyoung4491 r U sure lol.
It is pretty bad in Russia economically. Imagine going to the dollar store and having to pay $100 of an item
The problem is that as Ukraine has started attacking the Russian mainland, there has been a rally around the flag effect. People will be more likely to endure hardships rather than, e.g., strike, to support the military. It becomes a matter of survival. I think it's a huge mistake.
As opposed to.. what? Russia is going to go hungry.. it is sad but... it is their own doing.
They can see that Ukraine is striking military targets and showing no signs of conquest so I think there won’t be a strong rally round the flag
This guy has been completely wrong so far .