Copyright © 2024

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Three pieces of very bad economic news for Putin

Three pieces of very bad economic news for Putin
Edited by: A. N.

Vladimir Putin may not have been able to use the 2018 FIFA World Cup to distract Russians sufficiently to prevent them from protesting rising gas prices and plans to increase taxes and the retirement age; but he has achieved one thing: Western coverage of Russia has focused on the world cup rather than an avalanche of bad economic news.

Three pieces of such news should not be ignored because they point to longer term consequences than any athletic competition is ever going to have:

  • First, as commentator Vladislav Grinkevich points out on Profile, rising oil prices have not boosted the Russian economy as they did earlier, something that only highlights the failure of Moscow to come up with an alternative way of boosting economic growth.
  • Second, a Telegram blogger says that Western sanctions are having the effect of driving the members of the CIS away from Russia, as the leaders of those countries which remain in it placing their bets on attracting Western investment given that Moscow no longer has the resources to buy them off and keep them loyal.
  • And third, ever more of the youngest and most educated Russians say they cannot find suitable work in Russia and thus are planning to emigrate. Half of Russian graduate students plan to leave, and nearly one in three (31 percent) of all Russians aged 18 to 24 tell pollsters the same thing.

Read More:

Edited by: A. N.
You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts