Posted on Jun 3, 2022
Russia Braces For Economic Upheaval As Sanctions Start To Bite
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In Russia as of June 2022: prices and unemployment are increasing, spare part inventories are not being resupplied and safety regulations are being loosened.
Russia Braces For Economic Upheaval As Sanctions Start To Bite
Posted from ibtimes.com
Russia
Economy
Edited 2 y ago
Posted 2 y ago
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LTC Eugene Chu
"At his garage in the south of Moscow, 35-year-old mechanic Ivan is starting to worry.
With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.
But Ivan sees storm clouds on the horizon.
The foreign parts he needs to fix his clients' cars are getting harder to find, and prices have jumped by at least 30 percent after many brands halted exports to Russia.
"We're running out of stock. At some point, there won't be anything left," said Ivan, who declined to give his last name when speaking to international media."...
"At his garage in the south of Moscow, 35-year-old mechanic Ivan is starting to worry.
With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.
But Ivan sees storm clouds on the horizon.
The foreign parts he needs to fix his clients' cars are getting harder to find, and prices have jumped by at least 30 percent after many brands halted exports to Russia.
"We're running out of stock. At some point, there won't be anything left," said Ivan, who declined to give his last name when speaking to international media."...
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