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Sanctions And Surpluses
Not much time left till I bug out, so …
Western sanctions are creating real headaches for Russia, like, how should Russia spend all the money they’re pulling in:
Briefly noted via Zerohedge, How Sanctions Have Increased Russia's Oil And Gas Revenue:
Economists surveyed by Refinitiv were expecting a seasonally adjusted annual contraction of 1.3%
The contraction was 1.5%.
Lastly, I recommend the following Alex Mercouris video from this morning:
Pay attention to the bit about Zaporozhye, which concerns an important factory that, up until the war started, was supplying things like jet engines to Russia and … China. Russia has started targeting that factory which, as Mercouris says, suggests that Russia and China have worked out some supply issues. It’s interesting in that it provides some insight into the pacing of the war.
My own brief view regarding what some argue is a slow pace on Russia’s part. In modern warfare countries can’t afford large losses of personnel—there simply are not large reserves available and training takes way too long. It’s one thing for an advanced military like the US military to take on third worlders but, in Ukraine, Russia is dealing with a fairly large and sophisticated military that’s receiving top flight advice and technical assistance. The US can push the pace against third worlders without risking out of bounds casualties, but Russia needs to go more slowly. Nevertheless, its progress is sure, and (as Mercouris argues in the video) it is Ukraine that is suffering the irreplaceable losses—not Russia.