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Ukraine #
RussianEconomy #
Guardian [2of2}
Facts and figures coming out of Russia on its economics are controled by the Russian State [Putin] and are, per defenition not reliable.
The article is actualy a statement of eight European finance ministers"
And while I don't fully agree with them, the economics is sound. Ukraine should have more and the have the right to defend their country on Russian soil as well. JdeB
"Russia is lying about its economic strength: sanctions are working – and we need more
Eight European finance ministers"
by 'opinion' for the Guardian [24 july 2024]
https://www.theguardian.com/commentisfree/article/2024/jul/24/russia-economic-growth-western-sanctions-vladimir-putin-moscowQuotes:
"The signs are clear that not everything is as rosy in Putin’s Soviet-style war economy as Moscow would have us believe"
"President Vladimir Putin and his authoritarian regime are peddling the false narrative that the Russian economy is strong, and that its war machine is unharmed by western sanctions. This is a lie that must be rebutted."
"While Russian GDP may be growing, the economy is increasingly geared towards the war industry, upheld by large fiscal stimulus. This is not an endless source of growth, nor a sign of a stable economy. The Kremlin’s war factories are already at maximum capacity. Unemployment has fallen to the point that there are reports that Vladimir Putin approved the replacement of imprisonment for forced labour."
"To finance the war, the Russian government has tapped into the liquid assets of Russia’s national wealth fund. Estimates by Bloomberg suggest it has almost halved in size since Russia’s full-scale invasion of Ukraine, as the country sacrifices its future prosperity to wreak havoc abroad."
"What could be perceived and mistaken as a “boost” to Russian growth is, in fact, the beginning of a re-Sovietisation of the economy."
"To cover future deficits, Putin will have to use monetary financing, adding more fuel to inflation, and further deplete the Russian cash reserves. If Putin stays on this path, the long-term damage to the Russian economy could be significant and is likely to further erode confidence."
"However, this also requires patience and resolve from the west. We must maintain and increase pressure, while continuing and strengthening our support to Ukraine. Russian propaganda must not be left unchallenged."
"Further steps are needed, however, to constrain Russia and support Ukraine. The west should ensure a swift and efficient operationalisation of the G7 agreement on providing loans for Ukraine and explore options for more far-reaching solutions, in accordance with international and EU law."
"Meanwhile, support for Ukraine needs to be maintained and strengthened, and more weapons and ammunition must be supplied. All our nations have contributed significantly to supporting Ukraine, both financially and militarily, and will continue to do so for as long as it takes. Sanctions must be strengthened – particularly in strategically important sectors like energy, finance and technology; while the enforcement of existing sanctions must be improved."
"The Ukrainians are fighting an existential battle for freedom and democracy against oppression and authoritarianism. Supporting Ukraine and undermining Russia’s capacity to wage war at every turn should be the top priority of every democratic country."
Signed by:
* Elisabeth Svantesson, minister for finance, Sweden 🇸🇪
* Stephanie Lose, minister for economic affairs, Denmark 🇩🇰
* Mart Võrklaev, minister of finance, Estonia 🇪🇪
* Riikka Purra, minister of finance, Finland 🇫🇮
* Arvils Ašeradens, minister of finance, Latvia 🇱🇻
* Gintarė Skaistė, minister of finance, Lithuania 🇱🇹
* Eelco Heinen, minister of finance, Netherlands 🇳🇱
* Andrzej Domański, minister of finance, Poland 🇵🇱
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SlavaUkraini ! #
HeroyamSláva! #
RussiaIsATerroristState
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