With more and more companies are cutting ties with Russia or suspending their operations in the country, here’s a look at the country’s imports.
The above version of the original article by Felix Richter (statista.com) was edited [ ] and abridged (…) to provide you with a faster and easier read. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
Related Article on Ukraine From the munKNEE Vault:
According to calculations by the Kiel Institute, sanctions against the following sectors would most adversely affect Russia’s GDP:
Russia’s invasion of Ukraine is an effort by a relatively small country trying to use military action and threats, backed up by a nuclear arsenal, that can in no way compare in terms of resources to those it is threatening and, as such, the combined impacts of the imposed sanctions on its small economy will likely be significant and widely felt.
There are 862 individual SWIFT codes of Russian origin, belonging to somewhere around 300 financial institutions out of a total in the bank network of 11,000 and removing them from the network would prevent those banks from using the network to facilitate transfers.
What should we make of the fact that the Central Bank of Russia has been steadily amassing vast gold reserves since 2015?
Russia is a huge supplier of oil and gas — traded in US dollars — which gives it both leverage over near-term energy flows and, far more ominous for the U.S., the ability to threaten the dollar’s reign as the world’s reserve currency – and it’s taking some big, active steps towards that goal.
A prominent European think tank contends that the Russian economy may be entering into a death spiral, driven by a combination of factors, including low energy prices, government mismanagement, a collapse in the Russian ruble’s value and Western sanctions.
News events from the Crimean Peninsula have increased paranoia in the mainstream financial press and certain corners of the internet [that Russia, in response to any economic sanctions implemented by the West, might engage in some form of retaliatory financial warfare.