Russia’s economy is under siege, but will the west break first? | Larry Elliott
by Larry Elliott from on (#5WT4G)
Sanctions will take time and Ukraine fatigue' could blunt west's resolve as cost of living crisis deepens
It must have looked so simple for Vladimir Putin. Given his military superiority, a lightning strike by Russian forces would quickly overcome Ukrainian resistance and topple the regime in Kyiv.
The Kremlin would have bargained for the invasion being met with sanctions, but assumed these would be a minor inconvenience given the divisions in the west. But even if the measures were tougher than expected, Russia had a huge $650bn war chest of gold and foreign exchange reserves to support the economy.
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