menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Trump can apply real pressure on Russia’s collapsing economy

5 0
previous day

Considering Russian President Vladimir Putin was only using the 50-day deadline as an excuse to unleash more destruction on Ukraine, President Trump is right to shorten it to a little over a week.

Trump is also correct that, if Putin doesn’t agree to peace, sanctions can deal as strong a blow against Russia as missiles.

Despite the claims of Russia apologists, the war is bringing the country to its knees. Signs point to an economic catastrophe in the next 12 to 18 months.

Even senior Russian officials are issuing stark warnings. Russia’s Minister for Economic Development Maxim Reshetnikov recently warned that Russia faces recession.

But the reality is far worse. With the official inflation rate above 10% per year and the real inflation rate double that, prices of basic goods like potatoes, a staple for Russian families, are up three to four times since the Russian invasion in February 2022.

Government spending on defense is officially over 40% of the national budget and in reality more like 50% — crowding........

© New York Post