There's dispute about the idea that a military ... travels on its belly. Some credit Napoleon, others, Frederick the Great.
In any case it's an acknowledgement of the military importance of supply lines, and logistical support.
In the new millennium military power is fueled with money. And Vlad Putin's shenanigans in Ukraine (along with associated sanctions) are bleeding the Russian economy dry.
Phil Rosen / Sun, July 16, 2023 at 4:15 PM EDT
Before Vladimir Putin ordered the invasion of Ukraine in February 2022 and prior to the onset of historic sanctions, Moscow commanded the world's 11th largest economy and played a key role as a reliable, wide-reaching energy exporter.
Now however, from a weakening currency to tepid trade, all signs point to a sharp deterioration with no end in sight. ...
Russia has permanently forfeited European market share and is down to just two primary buyers of its oil, India and China.
The flight of capital and talent out of Russia is illustrated in the surge of money transfers to neighboring countries that aren't normally seen as financial hubs, according to Yale, such as Armenia, Georgia, and Kyrgyzstan.
"While there is no concrete measure of how much capital flight has taken place, proxy measures, such as the explosion of non-resident deposits in UAE bank accounts, suggests that Russians of means are taking their productive capital out of Russia at a dramatic clip," Yale researcher Jeffrey Sonnenfeld said.
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Will Putin salvage some semblance here?
How many more will die before this meat-grinder is shut down?
In any case it's an acknowledgement of the military importance of supply lines, and logistical support.
In the new millennium military power is fueled with money. And Vlad Putin's shenanigans in Ukraine (along with associated sanctions) are bleeding the Russian economy dry.
Phil Rosen / Sun, July 16, 2023 at 4:15 PM EDT
- Russia's economy has deteriorated since Vladimir Putin ordered the invasion of Ukraine in February 2022.
- Its current-account balance has crashed, the ruble is weakening, and it's status as an energy superpower has crumbled.
- At the same time, Russia's domestic consumption and production are low.
Before Vladimir Putin ordered the invasion of Ukraine in February 2022 and prior to the onset of historic sanctions, Moscow commanded the world's 11th largest economy and played a key role as a reliable, wide-reaching energy exporter.
Now however, from a weakening currency to tepid trade, all signs point to a sharp deterioration with no end in sight. ...
Russia has permanently forfeited European market share and is down to just two primary buyers of its oil, India and China.
Brain drain and emigration
Millions of Russians have emigrated since the start of the war in Ukraine, according to Yale data, with Uzbekistan alone taking in more than 400,000 fleeing citizens.The flight of capital and talent out of Russia is illustrated in the surge of money transfers to neighboring countries that aren't normally seen as financial hubs, according to Yale, such as Armenia, Georgia, and Kyrgyzstan.
"While there is no concrete measure of how much capital flight has taken place, proxy measures, such as the explosion of non-resident deposits in UAE bank accounts, suggests that Russians of means are taking their productive capital out of Russia at a dramatic clip," Yale researcher Jeffrey Sonnenfeld said.
5 stats show how Russia's economy is withering
Moscow's current-account balance has collapsed, the ruble has weakened, and its leverage as an energy superpower has been neutralized.
Will Putin salvage some semblance here?
How many more will die before this meat-grinder is shut down?
