[ad_1]
About 200,000 people risk losing their jobs in the Russian capital, Moscow, because of sanctions imposed on the occupation of Ukraine, said the mayor, Sergei Sobyanin.
Hundreds of Western companies have already announced they will suspend their operations in Russia after the West imposed a series of sanctions against Moscow over its occupation of Ukraine.
But the Moscow mayor’s statement does not seem to impress President Vladimir Putin, who says the war on Western sanctions has failed.
Speaking on Monday, Putin said in a televised address that the West “expected to quickly disturb Russia’s financial and economic situation, provoke market panic and the collapse of the banking system, but that this did not happen,” he said.
Our country, he said, has resisted “unprecedented pressure” from the West so far. But the figures show the opposite. Russia’s service sector has suffered the worst decline in activity since the Covid-19 pandemic hit in 2020 after consumers and businesses canceled orders and the situation worsened following sanctions.
Experts predict that the greatest economic impact of Western sanctions has not yet been felt in Russia, and they expect Moscow to enter a deep recession soon.
top channel
[ad_2]
Source link
