The sanctions come as G7 leaders are preparing to gather soon in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia’s war machine.

The sanctions come as G7 leaders are preparing to gather soon in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia’s war machine.

Archived version: https://archive.ph/qrIbC

  • BrikoX@lemmy.zipOPMEnglish
    13·
    5 months ago

    I’s not as bad as some western media reported, but it’s not great. They aggressively used their cash reserves and low interest rates to combat the sanctions, so it looked that they were immune, but it’s catching up to them now with interest rates at 16%. And while they were able to circumvent the sanctions with aid of India and China, they were forced to sell their oil & gas for cheap, while OPEC cartel raised the global price. Now Russia wants to make China make them pay full price, but they have no way to demand it if they want any revenue at all.