How Sanctions brought back the USSR (but only to Russia)
Since the start of the invasion in Ukraine, western sanctions are having a devastating effect in the Russian economy.
While the world has kept buying Russian oil and gas to heat their homes and power their factories and Russia has kept increasing its foreign exchange reserves, trade restrictions are preventing Putin's regime from progressing economically.
It is really hard to know, given the usual opacity and untrustworthiness of economic data coming from the Kremlin, the extent to which sanctions are damaging their economy, but what we can study and analyse is, what is Russia losing from Western companies offering irreplaceable goods and services. Like Boeing, Intel or Volkswagen.
What western sanctions have managed to achieve, has been to bring back economic data last seen during the times of the USSR. The level of isolation is forcing Putin to rely heavily on the only 2 countries able to bring some type of relief, India and China.
Lets deep dive in how sanctions are affecting Russia.